BTC - Final Boring Torturing Phase Before Breakout

12 февр. 2023 г.

As we can see BTC is behaving very simmilary of what XRP did after the SEC lawsuit in 2020. Wyckoff accumulation pattern is almost done, we just have to go through last boring phase, which could drag quite some time. We could be doing a simple ABC correction. Its a phase where a lot of retail will sell, specially those that bought back in at this recent 24k high. Imagine if prices were to stay hoovering here till Sep., when most of retail tought we are already breaking out.

For those who understand Wyckoff accumulation pattern, we are currently in SOS (Sign Of Strength) phase and are haeding to LPS (Last Point of Support) in an ABC style which could be as low as 18.3k so don't get scared if that happens.

As far as ABC correction goes, we could be already be done with an A wave and are heading up a bit for a B, but i'm not shore about that as A wave could still be in the making.

I am not expecting any violent breakdown as there are just to little long positions open as opposed to short ones.

DISCLEMER:
I am not a financial advisor so non of this should be taken as a financial advise. Be well.