Hello everyone,
Obviously this is a short term bull trap, the similarities are incredible to the last wyckoff accumulation. Recommend opening a limit long at $31,000, with a liquidation below $30,000.
My last long (25X) at $29,000 printed massively, and was closed at $60,000, seeing the same thing here.
My entire thesis is, we’ve been trading sideways since the May crash in a large range of $29,000-$69,000. No top has been found against 2017 in USDM1, so far the shortest bull run in history (which leads me to believe an October 2022 top), no redistribution from LTH’s to STH’s, miners hodling, hashrate ATH, daily active addresses and TX count climbing, and lowest exchange liquidity I’ve ever personally seen.
The double top theory is bunk, no volume increase on the second top, and the second top was higher than the first top.
In a macro lens, I’m looking for a higher low on a yearly timeframe against $29,000, that’s why I’m thinking $30,000 bottom.
This is a massively manipulated market, I suggest reading about the composite man before you call bear or bull. And don’t forget the incoming news blitz of more countries legalizing bitcoin, companies like Apple, Google, Walmart, Amazon, etc, supporting Bitcoin. Square / Block opening fiat on / off ramps.
Top of this cycle will be $140,000 in October 2022. Expect Biden’s regulations to bring big institutional money in play- they’re chomping at the bit.
Retail traders (most of you) will continue to be wiped out. In the STH Glassnode metrics, STH’s continue selling at losses, and overall acting as exit liquidity for smart money over and over. Become smarter traders!
Happy February!
Obviously this is a short term bull trap, the similarities are incredible to the last wyckoff accumulation. Recommend opening a limit long at $31,000, with a liquidation below $30,000.
My last long (25X) at $29,000 printed massively, and was closed at $60,000, seeing the same thing here.
My entire thesis is, we’ve been trading sideways since the May crash in a large range of $29,000-$69,000. No top has been found against 2017 in USDM1, so far the shortest bull run in history (which leads me to believe an October 2022 top), no redistribution from LTH’s to STH’s, miners hodling, hashrate ATH, daily active addresses and TX count climbing, and lowest exchange liquidity I’ve ever personally seen.
The double top theory is bunk, no volume increase on the second top, and the second top was higher than the first top.
In a macro lens, I’m looking for a higher low on a yearly timeframe against $29,000, that’s why I’m thinking $30,000 bottom.
This is a massively manipulated market, I suggest reading about the composite man before you call bear or bull. And don’t forget the incoming news blitz of more countries legalizing bitcoin, companies like Apple, Google, Walmart, Amazon, etc, supporting Bitcoin. Square / Block opening fiat on / off ramps.
Top of this cycle will be $140,000 in October 2022. Expect Biden’s regulations to bring big institutional money in play- they’re chomping at the bit.
Retail traders (most of you) will continue to be wiped out. In the STH Glassnode metrics, STH’s continue selling at losses, and overall acting as exit liquidity for smart money over and over. Become smarter traders!
Happy February!