Quote from: eth9888 on June 14, 2018, 07:19:24 AM

2. you assume this is the accumulation phase, logically speaking (not looking at any chart), I would guess this price level $6.5K is still in the distribution phase. reason is, $6K is still way above level where most of the "whales" have accumulated their coins (below $2K) it still makes a lot of sense for them to take profit at this stage.
That's why I personally have a very bearish view and that is - btc will fall to around $1.5K-$3.5K where actual accumulation would begin.

This is such a bullshit statement. Are you trying to say that before we hit for instance $2000 there were no whales willing to buy and those who bought earlier kept sitting on them without trading while the price was breaking every support level on its way to 20k? Trading is a continuous process and if you see huge volume, there are usually some whales selling and other whales buying. For every sold coin there has to be a buyer, and since coins are constantly being added to the pool, if the buyers and sellers are in equilibrium, those freshly mined coins are tipping the scales and pushing us down.

As for the OP's prediction, I don't rely purely on TA. BTC depends too much on the news for TA to explain everything. You can decide it's time to go long and the next day Mr. Kobayashi dumps 100 million $ in BTC.