Everyone has this burning FOMO; take a chill pill and relax. Bitcoin is becoming institutional, whilst most people will say that means more big money in, it must go up! They miss the fact, the same big money will want to accumulate!

It’s actually very obvious when you take a step back and look at the big picture.

I got a lot of stick last year for posting the Wyckoff distribution schematic (at $62,500) NOBODY believed it and hey we pinged my targets.

Once we started to see accumulation of the weekly 4, you could quickly see the levels for an extension and why we would create what is called a truncated weekly 5. I took the time to explain this in August and why the move up to the current ATH was limited at inception.

In order to understand, you need to know about money flow . Some people will call this smart money, others only know the term manipulation.

When you know what to look for, you can see the pre meditated moves – their flashing with neon lights.

I covered the COT situation back in November, which clearly showed massive short positions – Again like the distribution from the weekly 3. I posted to explain the situation and was bombarded with “we are off to the moon”, “This is accumulation not distribution” Oh well, guess what we dropped AGAIN.

Who was selling the rally? Well, who do you think? I’ll give you a clue – COT data painted massive shorts. Which means retail (Dumb money) buying from Wholesale (smart money) – get this, AT A PREMIUM

So jump foreword to the current situation, we are monthly 3 down to monthly 4 in the Elliott bias. Every retail trader, especially those carrying red bags. They all want the bottom to be in. Take a look at “smart money” levels.

I have used a traffic light system, Red being larger, orange medium and green local. the blue is the live level.

There are clear imbalances left un-tapped from above (important for a potential B swing)

We have a huge cluster around the 28k levels – again smart money knows where the money sits.

This key area was the first line target back in November when looking at destruction after a truncated 5th leg. Using Point and Figure extensions this range was the target, I don’t feel the well has been fully tapped.

We have some logic for a long drawn out accumulation as is, my current thinking is the A is yet to complete and we are still forming a combo move within that larger leg down. This will complete before we get to witness an explosive B move to chase the liquidity and sucker more dumb money into moon calls.

If you hadn’t followed the roadmap – I recently did a 3rd update.

So in summary, don’t jump in, follow the “smart-money” and wait for confirmation.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.