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I analysed all the pullbacks from ATH’s to local bottoms of the past 15 months and figured out that the current pullback, about 38% from BTC’s latest ATH is quite a normal thing to happen. There have been smaller and larger pullbacks in the past but this one s fairly standard. Plus, it appears that BTC is going through a Wyckoff accumulation phase and the latest drop appears to be a test of supply whereby the price usually drops to the bottom of the trading range as set by the first selling climax which occured on 4/12/21. So following the text book and the usual patterns the price should continue to go back up again soon. submitted by /u/PaperProfit |