Re: Calling top at $16500 (Even Newer!: $2483 bottom 19 Feb 2021 MtGox said so!)
If anyone can make something positive out of this chart then I'm anxious to see it!
From a Wyckoff cycle point of view, it may not be so bearish. David's analysis puts us deep in Phase D of an accumulation schematic, which suggests a very bullish 2020 to come: https://bitcointalk.org/index.php?topic=5140701.msg53176663#msg53176663
Given the prevailing trend, things are looking very pessimistic. That's why virtually everyone I see is bearish. That's also how it should feel near the bottom.
Ah yes I am familiar with the wyckoff stuff. Given that we were around 3xxx in feb, I'd be assuming that the accumulation phase is still in that region given there has not been a take off yet...
I'm not sure everyone is pessimistic (if you look at TA people, possibly, as they see what the charts tell them) if you look at e.g. overall sentiment on the boards here (you only have to look at the post before yours!) people are still sure that there is nothing to see its just a pull back, we are still in an uptrend!
Until those people start to have doubts and capitulate there is a ways to go yet imho.
@JayJuanGee ... I'm still massively bullish on Bitcoin, but I don't see any future for BTC. It's a long story, which nobody is interested in so I won't waste anyone's time
