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Bitcoin Possible Spring Post Spring Fakeout

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Bitcoin Possible Spring Post Spring Fakeout

Reasons for this outlook:

More people are now much more familiar with Wychoffian patterns. New patterns emerge to psych out the expecting.
The diagrams online were only ever meant to give an idea of the different developments in a trading range.

At the beginning of this trading range, the development started with a normal Seller's Climax (SC) and then developed the trading range as expected. As time passed the setup for the spring to match the online schematic diagrams that most are used to looked like a "match". However, things from there then made an unexpected move. On a smaller time frame a mini distribution triggered within the longer term acccumulation struction which lined up with the FTX black swan event. As things stand now, I think the market looks poised to spring up for daily/weekly relief rally. The news of FTX and the other dominos still wobbling in the industry have created an almost perfect terminal shakeout situation. The general sentiment is bearish and people are angry, so it's a perfect time to catch traders off guard.

Still if history rhymes, things will probably drop back down and move sideways for another year or year and a half after the relief rally (if it plays out).

Not financial advice and stay away from leverage right now imho. Good luck and trade safe.

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Let's see if anyone is shopping this Black Friday sale to change the momentum.

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