It has been revealed the fact that Bitcoin is getting ready to leave the 15-month accumulation phase behind, as the king coin is forming a bullish structure. Check out the latest reports below.

Bitcoin to leave the accumulation phase behind

According to a popular crypto analyst, Bitcoin (BTC) seems to be in the early stages of a bull market as it has been on the rise for six consecutive weeks.

Jason Pizzino, the analyst, has informed his 83,900 followers on X, a social media platform, that Bitcoin is currently in the final stage of the Wyckoff accumulation schematic.

This well-known pattern suggests that wealthy investors are taking their time to accumulate the asset.

Pizzino stated the following:

“Bitcoin closes six straight weeks up. It’s getting hard for the bears to remain bearish in the face of a relentless uptrend.

The Wyckoff schematic is most likely in Phase E and preparing to leave the ~15-month accumulation phase behind (if it hasn’t already done so).

Well done to all who timed the low accumulation phase and took their positions early.

The journey from here is the fun part but the emotions (price swings) will be far more volatile. Don’t drop the ball – it’s only getting started.”

According to the Wyckoff accumulation schematic, Phase E of the pattern clearly indicates that the asset is preparing for the markup phase or a period of price rises.

While Pizzino is optimistic about BTC and confident about a bullish signal, pseudonymous analyst Inmortal disagrees, at least in the short term. Inmortal firmly believes that Bitcoin might correct all the way down to $33,000 in the coming days, which is a real possibility.

“We have to feed the bears from time to time, don’t we?”

Stay tuned for more news from the crypto space and make sure to check out the crypto market as well.


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