MAID/BTC - Renewed Wyckoff DistributionAn updated version of the last Wyckoff chart.
I’ve been looking at the bigger time frame where I noticed a strong shake-out when the price fell to the ATL or just above it. Some new entity was lucky and got his bags filled while price returned up again.
I consider this event ‘the spring’, where a big holder got shaken out (either by choice or accident, read price suppression) and that’s exactly what capitulation needs before price can start to rise up again.
Now the latest weekly chart on MAID/BTC with the same logic applied, the intermediate target is 4030 satoshis (0.00004030) as this is where the distribution range extends to after breaking the very long-term distribution pattern.
Price should double in matter of months if not a few weeks, but above 2260 will only the real fun begin. The setup however looks perfect and if I had to choose between all the many projects out there this would definitely be one of the more reliable ones based on from how low it comes and the fundamentals about how much this niche can still grow.
As you can see we are still at childs play, long-term holders are really happy about the current price increase and might want to sell but whale know that real potential lays a lot higher, starting from 7789 satoshis (0.00007789). Quick calculation from current price at 1594 tells we are still up for a whopping 489%+ increase from here in MAIDBTC.
-TheTrex
