Pattern: BTC accumulation

24 July 2019, Wednesday, 04:59 - Edward Xilay
Pattern: BTC accumulation

One of the most reliable patterns regarding cryptocurrency is the long accumulation of coins within a narrow price channel if the major player accumulates a position, no doubt, he will arrange a dive for distribution.

One of the most reliable types of cryptocurrency is the long accumulation of coins within a narrow price channel. You don't need to be a TA guru for analysis, it's simple logic. Let me cite the example of altcoin REN, which has been in the range of 300-600 Satoshi for a year.

If a coin is not allowed to fall below the built channel for so long, it means that a major player has been accumulating a position all this time. So, if the key player accumulates a position, sooner or later he will arrange a dive for distribution, you can be sure of it. The pattern is very rare because most of the altcoins this year just did what they did to break through the new bottom.

To search, you need to look at the charts including Bitcoin, not USD. Whales use pump/dump for alts to accumulate Bitcoin. To see the full picture, you need to follow this rule. There are a few more coins with the same pattern, but without a pump so far. I will post them on the channel once in a while.



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