As institutions, corporations, countries, and more buy into Bitcoin, the cryptocurrency is beginning to transition from a speculative asset to a macro financial asset much like gold, oil, and others. But before that happens, the top cryptocurrency by market cap is mimicking Jesse Livermore’s “speculative chart” with incredible accuracy and precision. If this rare chart pattern referred to as a Livermore Accumulation Cylinder continues to play out, the Bitcoin bull cycle is about to come to a dramatic climax. We’re also taking a deep dive into the legendary life and untimely death of Jesse Livermore himself. Speculative Chart: Bitcoin Price Pattern Matches Livermore Accumulation Cylinder Bitcoin price action has been up and down – literally and figuratively. After setting a new all-time high, rather than blasting off to $100,000 or more where the bull market is projected to end, the cryptocurrency fell back to retest lows around $53,000. The gyrating price action has put the king of cryptocurrencies into a wedge-like pattern with a broadening mouth. It also closely mimics that of a Livermore Accumulation Cylinder. The 2021 BTC bull cycle | Source: BTCUSD on TradingView.com The chart above layers BTC price action since the April high was put in through today. If the pattern is valid, an enormous amount of speculative volume could suddenly appear, pushing Bitcoin and other cryptocurrencies to more dra...
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