Bitcoin More fear? More Accumulation?
Hello traders,
Over the summer I dove deep into the schematics of Richard Wyckoff. One thing I recognized studying his teachings was that it is apparent to me Bitcoin being a scarce asset with great current and future demand that there are market makers out there trying to create more liquidity of this asset they can accumulate. Wyckoff explains his theory regarding the “composite operator” which he elaborates is simply market makers who control the market to their advantage and largely to your disadvantage. To my case in point, I have circled an area that I published an idea on that was based on a Wyckoff Accumulation Schematic which you can find in the linked ideas below. This schematic basically creates market participants that think the market is going lower this, they sell off their asset (in this case Bitcoin, a scarce asset) and shortly after push the same participants to buy the asset up making the price appreciate.
I find it eerily similar that the price action we experienced back in the summer of 2021 is almost identical to the price action we are experiencing now. I have placed a fear indicator on the chart that you can get an idea of the overall sentiment in the market during both of these periods. To me, it seems as if we are going through the same situation and I’d expect some type of good news over the next few months that push the markets up and we see some appreciated prices along the way.
Keep in mind that you’re in an asset class that isn’t going away anytime soon. This is a world changing technology and will change many lives for the better along the way. Keep your hands strong folks and stay diligent in your research!
Have a green week!
Savvy
Over the summer I dove deep into the schematics of Richard Wyckoff. One thing I recognized studying his teachings was that it is apparent to me Bitcoin being a scarce asset with great current and future demand that there are market makers out there trying to create more liquidity of this asset they can accumulate. Wyckoff explains his theory regarding the “composite operator” which he elaborates is simply market makers who control the market to their advantage and largely to your disadvantage. To my case in point, I have circled an area that I published an idea on that was based on a Wyckoff Accumulation Schematic which you can find in the linked ideas below. This schematic basically creates market participants that think the market is going lower this, they sell off their asset (in this case Bitcoin, a scarce asset) and shortly after push the same participants to buy the asset up making the price appreciate.
I find it eerily similar that the price action we experienced back in the summer of 2021 is almost identical to the price action we are experiencing now. I have placed a fear indicator on the chart that you can get an idea of the overall sentiment in the market during both of these periods. To me, it seems as if we are going through the same situation and I’d expect some type of good news over the next few months that push the markets up and we see some appreciated prices along the way.
Keep in mind that you’re in an asset class that isn’t going away anytime soon. This is a world changing technology and will change many lives for the better along the way. Keep your hands strong folks and stay diligent in your research!
Have a green week!
Savvy
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