It all reminds me of the PA between 1999-2008 of the SPX500. First big rally to the upside (internet hype). Then the bubble burst and the market collapsed. Then the market recovered and went over the highs and grabbed the liquidity twice and the whales went short and then the market collapsed again and price went below the prices of 2001 ish, the whales grabbed the liquidity and price quickly went back into the range established and went to the top weekly close of the accumulation range of the lows of the first crash and then the final crash happened, a second grab of liquidity lasting longer to make the last people fold and then the bull run began. This all turned out to form a massive macro bullish harmonic pattern (think its a shark not sure).
Anyways Bitcoin is doing the exact same it runs to 65k then flash crashes to 30k and forms an accumulation range, runs back up and grabs the liquidity twice above 65k a few months later and the market crashed below the accumulation range of may 2021 and ofc the whales grabbed the liquidity and we are trading back in the range.
So far it’s doing the exact same thing as SPX500 back then and I’m not much of a fractal trader but I think in this case the psychology behind it is really valueable and therefor I think It is very likely btc will go to the highest weekly close of may-July accumulation range (38-39k) and probably a shakeout range and then the final flush which will last much longer before the bullish (shark) will be complete and a new bull run will begin (no crypto winter).
Thoughts?
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