9
Originally posted on lifestylemaniacs.com
I posted an article last week saying that Bitcoin is about to suffer a correction at the 25K-30K range. It seems I was right. Bitcoin went down to 29K, and the crypto market followed.
Of course, I bought Bitcoin at 29K and afterward at 34K, as you see in the chart. I also bought ETH at 1.9K.
The Wyckoff Accumulation Schematic
Buying Bitcoin at 34K was a mistake because I thought, at first, that we are in Phase C of the Wyckoff Accumulation Schematic. However, a more careful chart analysis revealed that we are most probably?—?not for sure?—?in Phase B.
In my previous article, I said that we are about to end the Wyckoff Distribution Schematic, and it seems we did, probably sooner than I saw. We can easily see that the Wyckoff Accumulation Schematic has begun, and we are in the middle of it.
If you are not familiar with the Wyckoff Method, read my previous article or go directly to the source.
The image above presents the Wyckoff Accumulation Schematic with its phases. I applied this schematic to the Bitcoin daily chart, as you saw at the beginning of the article, and it seems we are in Phase B at ST.
Of course, I may be wrong, and we may be in Phase C, but it is better to prepare for another bull trap at 40K and then a drop?—?bear trap?—?at 27k.
I think Bitcoin will follow the arrows drawn in the chart. I will probably sell again at the next 40K and wait for Bitcoin to either break the 43K, either to go down back at 30K.
I am almost sure that Bitcoin?—?and the market?—?will go to 100K by the end of this year. Thus, the bear market won’t come until 2022.
Takeaways
Now, I cannot recommend and advise you into doing anything with your money because I am not a financial advisor. I can recommend preparing for any scenario. Nothing is certain, just probable.
If you want to educate yourself in the crypto market, I recommend reading my article on this topic. You will find there some useful research tools that helped me a lot.
If you found this article useful give it some Likes and Share it to help other people become smarter for free as you did. Also, if you want to read more articles like this, Follow me. I do my best to post every weekend.
Disclaimer: I am not a financial adviser and don’t recommend investing in anything as nothing is guaranteed. Everything I write on the topic is for informational and educational purposes only. Always do your research.
