Bitcoin - possible falling wedge (update 29 nov idea)
We went back to the wedge. Retailers have been capitulated. There is a spike volume which means a strong accumulation. It is difficult to say whether we will continue to consolidate at around 46-50k or whether the purchasing pressure among whales will pull us up quickly.
If the wedge is played, we should quickly return to 63k. Many retailers consider a drop below the 52k uptrend to be the "end of the bull market". In my opinion this is wrong, and it is up to the panicked retailers to buy back the bags.
I have certainly seen two 2-3 day accumulations recently. One at 54k around November 27th and at 49k three days ago. In my opinion, this is a sign of the upcoming further increases.
If the wedge is played, we should quickly return to 63k. Many retailers consider a drop below the 52k uptrend to be the "end of the bull market". In my opinion this is wrong, and it is up to the panicked retailers to buy back the bags.
I have certainly seen two 2-3 day accumulations recently. One at 54k around November 27th and at 49k three days ago. In my opinion, this is a sign of the upcoming further increases.
