2 min

Bitcoin – redistribution in progress?

Today I gonna show you very interesting scenario which I bear in mind as my main scenario. Let's return back to 2021 summer

Hello, everyone!

My short got the stop loss, to be honest I am not surprised. I proves us that to short the market is much harder because of higher volatility at the tops. For the statistics, last 2 months long trades brought me almost +12% to my deposit, while short trades liquidated -4% of the deposit. Win rate = 30%, the positive profit + 8% is because the proper money management. I study the Wyckoff trading system to increase win rate, because it is the worst part of my game.

Today I gonna show you very interesting scenario which I bear in mind as my main scenario. Let’s return back to 2021 summer. There were the huge accumulation which was with the great volume. It lead the price to the new ATH and gained +100%. The key moment was the smoothed 21 week MA breakout, which was the impulsive with the further multiple retests.

In December 2021 the price broke this MA to the downside and after the multiple attempts to return above it fell down again. Now we can see the sideways movement in BTC price like we saw the last summer. A lot of traders think that it is the same situation and the Bitcoin is in the final accumulation stage before the massive growth. But look at the volume. It is really low, I don’t think that the whales accumulated the sufficient amount of Bitcoins.

The BTC now has the attempt to break through the 21W MA and I don’t think that it will be successful. If we take a look at the weekly Fibonacci, it has the final target in zone 27 at $23-26k. This is my future buy zone. I hope I will be right!

Good luck!

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