The cup and handle pattern played out as expected and now a bull flag is forming on the daily. The bull flag target matches up nicely with the sine wave projection as well as the fib extension. A lot of buys orders coming in during this correction and a push upwards is imminent. TSI has headroom as well as beginning a new momentum cycle.
The recent price action in BTC is obviously a classic Wyckoff pattern driven by institutions. This is clear now, however, why did this happen? My thoughts are that the institutions saw BTC as an easily manipulated and unregulated vehicle to get at the Billions of dollars in stimulus payments out of the hands of retail investors who, many out of a job, were looking...
