the big picture of bitcoin
hello guys,
i want to show you my view on the bitcoin/usdt pair. because its the most important chart of the cryptospace in my opinion. everyone on youtube is shouting for 100k and 200k, but i think we topped out at 69k and we are in a very big monthly wyckoff distribution.
we had a crazy run in 2020 to 2021. as you can see in the charts i pointed out the buy zone and the sell zone. the buy zone took over 2 maybe 3 years for the big guys to accumulate. now we are in a phase that no one believes we are going to 14k-20k but i believe we do. the first sell off at 60k brought as back to 30k. a few weeks ago we topped again with a new all time high. but this time we barely broke it and the sell pressure was much higher than the buying. this indicates a very important thing in the market. and thats the change of trend. what do i mean by that? well, the red candles will be much bigger and longer than the green ones. also you can see on the charts that the buy zone takes longer than the sell zone. this is kind of logical if you think about it. if no one is interested in crypto and there is no hype, it takes longer to accumulate. if there is a lot of hype, the whole world is fomoing in and buying of the accumulation boys.
if we were still that bullish, we had to overcome 69k and blasted through reaching 80k in this or last month. so what happens now?
we have 3 scenario's
1. we rise a little higher to probably 57-65k max and we make a lower high. we come back to 40 k and make a another lower high and we keep bleeding down to 20k. altcoins make new ath and
come back with big sell off.
2. we rise to 72k, everyone is super bullish we make an utad, a upthrust after distribution, this is to shake every leverage trader out of the game with a very big red candle. follows by the situation as
above. altcoins make a new ath and comes back with big sell offs.
3. i was completely wrong and we go to 100-150k and than distibute.
at the moment, i believe my view on 1. is the most likely scenarion to happen.
i will keep you posted
i want to show you my view on the bitcoin/usdt pair. because its the most important chart of the cryptospace in my opinion. everyone on youtube is shouting for 100k and 200k, but i think we topped out at 69k and we are in a very big monthly wyckoff distribution.
we had a crazy run in 2020 to 2021. as you can see in the charts i pointed out the buy zone and the sell zone. the buy zone took over 2 maybe 3 years for the big guys to accumulate. now we are in a phase that no one believes we are going to 14k-20k but i believe we do. the first sell off at 60k brought as back to 30k. a few weeks ago we topped again with a new all time high. but this time we barely broke it and the sell pressure was much higher than the buying. this indicates a very important thing in the market. and thats the change of trend. what do i mean by that? well, the red candles will be much bigger and longer than the green ones. also you can see on the charts that the buy zone takes longer than the sell zone. this is kind of logical if you think about it. if no one is interested in crypto and there is no hype, it takes longer to accumulate. if there is a lot of hype, the whole world is fomoing in and buying of the accumulation boys.
if we were still that bullish, we had to overcome 69k and blasted through reaching 80k in this or last month. so what happens now?
we have 3 scenario's
1. we rise a little higher to probably 57-65k max and we make a lower high. we come back to 40 k and make a another lower high and we keep bleeding down to 20k. altcoins make new ath and
come back with big sell off.
2. we rise to 72k, everyone is super bullish we make an utad, a upthrust after distribution, this is to shake every leverage trader out of the game with a very big red candle. follows by the situation as
above. altcoins make a new ath and comes back with big sell offs.
3. i was completely wrong and we go to 100-150k and than distibute.
at the moment, i believe my view on 1. is the most likely scenarion to happen.
i will keep you posted
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