Bitcoin Trend Prediction: End of Dip is Near!
UPDATE: My projections below did not take into account that days 4 and 5 from now are Saturday and Sunday, which have notoriously low volume. I could see the gain waiting until Monday. However, Whales are playing games and reversing recent patterns is what they do. I am updating projection to between 6/12 and 6/14.
The current dip has hit many crypto traders hard. The whales are playing mind games and trying to shake out as many holders as possible to buy in low. There was a dip during the 2017 Bull Run with an uncanny resemblance to what we are seeing now. The whales did the exact same thing with the exact same methods. Let's take a look at these dips, starting with our current situation.
The whales like to keep it fresh and trick retail investors into buying and selling at the wrong times. They likely figure what worked 4 years ago will not only work again today but that nobody will remember.
In 2017 the dip I am referring to started 338 days after BTC halving, lasted 34 days and had a decrease of 41.4%. We started our current dip 362 days after BTC halving, are 29 days in and have had an overall decrease of 46.0%. If we are following the 2017 trend, we should expect the price to decrease until approximately June 12th (end of wedge) or 13th (34 days into dip). Prices dropped by a larger percentage than 2017 and will drop further-the whales are essentially making this dip "Bigger and Better".
Following this dip, I am expecting a full Bull Run recovery. Why? Partly because the media is telling us the Bull Run is over and everyone should sell. Also, due to the well known fact that globally, nations and banks are looking to invest in crypto and have been targeting low prices. Whales are going to drop the price further and we are going to see a tremendous price increase soon after.
This prediction lines up quite well with Akin D. Grace's recent Wyckoff Accumulation Analysis.