Point Of No Return!

Actualizado
Alright people, are you ready to meet my bull face? I never actually removed my laser eyes anyways :))) There's a bull inside of every bear and vice versa!

Let's start with, the bad news:
Redistribution is invalidated, no more 20k in the horizon. The rally from 30k has set the end of redistribution scenario which has always been the possibility and this also means the whole time we were in accumulation, just like i first started the analysis of this series.

Look at my very first wyckoff accumulation analysis:
#Bitcoin Wyckoff Re-Accumulation Scenario Before $100k


I didn't even know about redistribution back then and even called this incorrectly as reaccumulation, see how far we come :)

Good news is that the structure is now much clear. Especially by the help of my infamous indicator TOTT, which has printed the first buy signal since selling on April 24th. I trust it, because i have been backtesting it for 6 months, maybe more. This is the wake up call for me and I'm pretty confident that we are going up soon. (Last words LOL :)

imagen

The primary accumulation is ended with the streak leg up and now, we are in a smaller reaccumulation which will take us to the demand side of the newly forming uptrend channel. It will take us till late August to break above 40k and start a new leg up all the way to 60k levels and another reaccumulation to resume the trend towards 80k where the distribution starts playing with the preliminary supply event up until 100k.

Let's look at the p&f chart for the accumulation count and price objective

imagen

Copy this Open4Profit! (The guy who copied my previous p&f analysis and presented as his own. Glad that idea went bust :)

To sum up, we are going to 100k in 4 easy steps:

Step 1 / 35-41k Reaccumulation / 41-59k Markup
Step 2 / 59-65k Reaccumulation / 65-77k Markup
Step 3 / 77-83k Reaccumulation / 83-89k Final Markup
Step 4 / 89-100k Distribution & Blow Off Top

And then you'll have a very big problem on how to spend your money till the next bull cycle :)))

It's ofcourse too early to set the boundaries of channel as it has yet to make the down move, but this is the opportunity right now for us to buy the last point of support.

THIS WILL BE THE POINT OF NO RETURN!

My target entry points are split between these support levels with different asset allocation.

37.300 - Monthly support (May Close)
36.500 - Bottom support of new trading range
35.800 - Additional step between spring and support
35.200 - if a spring type action occurs

I see sub 35k highly gone forever Laura.

Starts are aligned, limit orders are set, waiting to get filled. If, we don't go down to these levels, i'll buy the breakout anyway.

My previous target, the breakout above 41.330 is still valid, BUT if it happens today or too soon before going down first, it would most probably be a trap to shakeout the weak hands. So, if you already bought here, you need to hold on tight and move your stop loss lower around 30k if you don't want to get liquidated.

If you want to buy the breakout, wait until this consolidation ends, in the meantime enjoy lower prices whenever you can. That's what i will be doing.

I wish we went down further and took the chance, but this bull cycle seems to be a double top scenario like 2013.

So here you are, going to the moon :)

Best.
Nota
Hands down, 41.330 target reached and purchase complete. See you at 100k.
100kaccumulationChart PatternslastpointofsupportmoonpointofnoreturnreaccumulationTrend AnalysisWave Analysiswyckoff

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