Known Wyckoff model indicates that the decline in BTC is over and the final phase of growth to $ 40,000 is coming. After completing the entire model, BTC should continue to grow back to ATH.
BTC and Wyckoff model
Wyckoff model is most likely one of the most watched models in recent times. If we were to follow him, then BTC has definitely found its bottom and is moving from phase C to phase D. It is phase D that is characterized by the greatest bullish power and a decisive growth moment that completes the consolidation at the bottom and marks the beginning of the bullish trend.
At the end of this whole pattern, the last bullish triangle is to come at a level of around $ 40,000. After the break out move from the triangle, BTC should give move and continue to grow on the new ATH.
How to deal with this analysis?
The Wyckoff model very reliably shows the strength of the market and in which direction it could move. But it is still only a model, not an oracle ball. Although this price development on Bitcoine makes the most sense, it does not mean that in the end in fact, BTC will go to $ 40,000. There are dozens of other factors such as fundamentals, regulations, and the like that can completely destroy the entire analysis from hour to hour. Not to mention Elon Musk’s tweets.
Disclaimer: This article is for information purposes only and should not be construed as investment advice.