Most important is the Volume in the same time span.
The Volume is what grinds me since the last All Time High.
Still this is not meant as guarantee to continue like this.
Worst case scenario would be a long term bearish trend back to 6000 USD. Not very likely but possible.
If long term bearish then the steps would be something like 37000 > 20000 > 12000 > 6000
Why you I think a long term bearish is possible?
- First Bitcoin is hot garbage, it's slow, it's bulky and too expensive and too overvalued.
- Call me paranoid but what if this is just a long term Wyckoff Distribution? 1, 2, 3, 4, 5
Why should Bitcoin keep growing?
- Because we people are retarded stupid emotional greedy fucks who never really learn and keep doing the same shit over and over and over and over ... again.
The Volume is what grinds me since the last All Time High.
Still this is not meant as guarantee to continue like this.
Worst case scenario would be a long term bearish trend back to 6000 USD. Not very likely but possible.
If long term bearish then the steps would be something like 37000 > 20000 > 12000 > 6000
Why you I think a long term bearish is possible?
- First Bitcoin is hot garbage, it's slow, it's bulky and too expensive and too overvalued.
- Call me paranoid but what if this is just a long term Wyckoff Distribution? 1, 2, 3, 4, 5
Why should Bitcoin keep growing?
- Because we people are retarded stupid emotional greedy fucks who never really learn and keep doing the same shit over and over and over and over ... again.
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Added to the idea to show the current Wyckoff Distributions (with own programmed indicator overlay, the green/red MA and the arrows)
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Update
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Updated Volume PatternFor me it's a no-buy till we go below that middle orange trendline.
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