So there’s proof that a lot of bitcoin has been greenlighted for major purchases….perhaps even already purchased but the price action is showing the retracement back down to either the bottom of the descending channel or the bottom of the rising support on macro time frame (white line). Either way, i think every time I’ve tried to short bitcoin it never works out….so buy the dip is my best advice.
The Wyckoff model predicts that after this retracement our beloved bitcoin might actually show us the final phase of the running flat correction in which we go parabolic. Terra and Microstrategy and others have now pulled out loans to buy more bitcoin, but remember every time you buy bitcoin it must be SOLD to you, so expect the dip when major buyers come in. The imbalance between supply and demand must be met to increase price action. So far we have lots of supply being slowly sold into buyers and when volume picks up that will show us when the storm begins.
Good luck traders. Not sure if you got the memo but we already hit the bottom at $34k and won’t be back there for a long time. IMO
The Wyckoff model predicts that after this retracement our beloved bitcoin might actually show us the final phase of the running flat correction in which we go parabolic. Terra and Microstrategy and others have now pulled out loans to buy more bitcoin, but remember every time you buy bitcoin it must be SOLD to you, so expect the dip when major buyers come in. The imbalance between supply and demand must be met to increase price action. So far we have lots of supply being slowly sold into buyers and when volume picks up that will show us when the storm begins.
Good luck traders. Not sure if you got the memo but we already hit the bottom at $34k and won’t be back there for a long time. IMO