Looking at Bitcoin on the 12-hour time frame we see we accumulation underneath the 2017 ATH price of around $16,889. Huge manipulation tactic to scare retail out of positions, and when everyone thinks the market can go lower and is boring, that’s when you should be paying attention.
From here, if we can successfully reclaim $16,889 I’m expecting Bitcoin to reclaim $19,356 before distributing into the range of $20-21,000.
Green boxes are marked accumulation
Yellow boxes are marked manipulation
Red boxes are marked capitulation
Bitcoin Volatility moves in this direction: Capitulation --> Manipulation --> Accumulation --> Disbelief --> Distribution
After the range of distribution, a newsworthy event takes place and offers exit liquidity to institutional players, creating a contagion of wide-spread market selling. This cycle then repeats, but on a different time frame / scale.
Trade is invalidated if we break below manipulation and slip into $13k, although that is in the realm of possibilities, I don’t have that on my bingo card of 2022, per se.
As always please do your own research, I am not a financial advisor.
From here, if we can successfully reclaim $16,889 I’m expecting Bitcoin to reclaim $19,356 before distributing into the range of $20-21,000.
Green boxes are marked accumulation
Yellow boxes are marked manipulation
Red boxes are marked capitulation
Bitcoin Volatility moves in this direction: Capitulation --> Manipulation --> Accumulation --> Disbelief --> Distribution
After the range of distribution, a newsworthy event takes place and offers exit liquidity to institutional players, creating a contagion of wide-spread market selling. This cycle then repeats, but on a different time frame / scale.
Trade is invalidated if we break below manipulation and slip into $13k, although that is in the realm of possibilities, I don’t have that on my bingo card of 2022, per se.
As always please do your own research, I am not a financial advisor.
