After reaching the target of 52K in my previous analysis (see links below), I had exited my trades before we entered the next phase of the wykoff schematic.
As you can see, we are forming the perfect fractal to what we had seen in May.
At present, BTC finds itself in a near perfect accumilcation zone, in my opnion. As we are only human, finding the exact bottom is near impossible, so, I will personally be accumilating in this region, with anticipation of one final drop to the 36-37k region. At this stage, the wykoff distribution sell off phase will have been completed, and my positions will have been increased further (Dollar Cost Averaging is the plan here).
Having crashed now by 25% from it's local top (the average retracement for each dip during this bull-run), and with the Evergrande FUD beginning to fade, I believe that any purchase of crypto assets in the weeks to follow will prove profitable in the months to follow.
The market is scared right now, and where there is fear, there is opportunity.
As you can see, we are forming the perfect fractal to what we had seen in May.
At present, BTC finds itself in a near perfect accumilcation zone, in my opnion. As we are only human, finding the exact bottom is near impossible, so, I will personally be accumilating in this region, with anticipation of one final drop to the 36-37k region. At this stage, the wykoff distribution sell off phase will have been completed, and my positions will have been increased further (Dollar Cost Averaging is the plan here).
Having crashed now by 25% from it's local top (the average retracement for each dip during this bull-run), and with the Evergrande FUD beginning to fade, I believe that any purchase of crypto assets in the weeks to follow will prove profitable in the months to follow.
The market is scared right now, and where there is fear, there is opportunity.
