Bitcoin BTC Repeat Accumulation Pattern?
Since the May sell-off, BTC has shown the same pattern of accumulation multiple times.
1. Leverage Shakeout
2. Consolidation #1
3. False Breakout
4. Consolidation #2
5. Rally
If the pattern is to repeat, we are potentially in part 4.
Not to mention, most have flipped bearish and the direction seems clear to most which they believe is down.
There was also a very strong bid to short and cause another liquid cascade today but failed and had to cover their shorts.
Most expected a strong rally 2 weeks ago but didn't get it. Now they only see bearish outcomes. Perfect set up.
~S&P 500 All-Time High
~Bonds No reward
~Yields Have Strongly Rallied
~Daily RSI Still on Uptrend
Mid-January Bitcoin should flip to the upside.
1. Leverage Shakeout
2. Consolidation #1
3. False Breakout
4. Consolidation #2
5. Rally
If the pattern is to repeat, we are potentially in part 4.
Not to mention, most have flipped bearish and the direction seems clear to most which they believe is down.
There was also a very strong bid to short and cause another liquid cascade today but failed and had to cover their shorts.
Most expected a strong rally 2 weeks ago but didn't get it. Now they only see bearish outcomes. Perfect set up.
~S&P 500 All-Time High
~Bonds No reward
~Yields Have Strongly Rallied
~Daily RSI Still on Uptrend
Mid-January Bitcoin should flip to the upside.