Everywhere I look on Twitter, I see comments about Bitcoin going to $20,000.
As I’ve mentioned in previous issues, Bitcoin has never retested its previous cycle high ($20,000) after closing a month above it.
That doesn’t mean it can’t happen, but it would be a first.
However, there’s another reason some think BTC may not drop to $20,000. It may even suggest Tuesday’s low is the bottom.
We’ll discuss what that other reason is in today’s issue and how to confirm or negate its validity in the coming days.
Let’s get it!
Richard Wyckoff’s Schematics
Richard Wyckoff was an early 20th-century technical analyst and widely considered one of the greatest who has ever lived.
I can easily put Wyckoff in the same company as Dow, Gann, and Elliott, to name a few.
He’s most famous for his work on accumulation and distribution schematics, which we’ll study today.
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