For the past few months I've been noticing BTC follow the same rigid accumulation or distribution schematics.
The matching rectangles represent the phases of the cycle. Buying climax, Overbought region, etc etc.
Now I would expect bitcoin to run again in an overbought rally perhaps to 14k+.
We would then see a retrace potentially to 12.5k, get a few weeks of chop and then continue the bull market with a higher high.
Or....
We might drop to 11.1-11.2k and tap the multi-month trendline, see some sideways action and then make a decision... To break down and create a distribution schematic.... Or rally again even higher/test 12.5k/13.8k.
P.S if you like this piece feel free to cheer me and I'll do my best to continue posting my analysis regularly :)
The matching rectangles represent the phases of the cycle. Buying climax, Overbought region, etc etc.
Now I would expect bitcoin to run again in an overbought rally perhaps to 14k+.
We would then see a retrace potentially to 12.5k, get a few weeks of chop and then continue the bull market with a higher high.
Or....
We might drop to 11.1-11.2k and tap the multi-month trendline, see some sideways action and then make a decision... To break down and create a distribution schematic.... Or rally again even higher/test 12.5k/13.8k.
P.S if you like this piece feel free to cheer me and I'll do my best to continue posting my analysis regularly :)