Bitcoin bounce from $28.8K activates century-old financial model's bullish th...
Bitcoin's recent push from under $30,000 to over $34,500 asserts hopes of a big price recovery ahead. A recent upswing in the price of Bitcoin (BTC) following a nail-biting price crash below $30,000 this Tuesday has activated a classic financial model's bullish outlook on the cryptocurrency.Titled Wyckoff Method, created by Richard D. Wyckoff in 1888, the model attempts at navigating financial market trends based on the relationship between assets' supply and demand. The method has two schematics: Accumulation and Distribution. In an Accumulation setup, an asset signals bottoming out....
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The conservative Republican from Wyoming plans to buy more BTC if the price drops further. United States Senator Cynthia Lummis, a Republican from Wyoming, took advantage of a deeply discounted Bitcoin (BTC) price this week by adding to her holdings. In the wake of yet another major price correction for crypto assets, Lummis told Fox News Wednesday that she’s “excited to buy the Bitcoin dip.” U.S. Senator, @CynthiaMLummis, "I'm excited to buy the #bitcoin dip" pic.twitter.com/OHXiA6vhxi— Documenting Bitcoin (@DocumentingBTC) June 23, 2021 When asked about Bitcoin’s rapid price....
Every generation sees a fundamental innovation revolution. In the 20th century, the internet brought us closer. The 18th century ushered in the industrial revolution, while the 17th century enlightened humanity through the Renaissance. While some are naturally skeptical, many already believe that in the future people will look back at this current stage of early […]
What can a sixth century game teach us about 21st century money? A lot, apparently.
Bitcoin will now decide whether or not to preserve the one-year trendline as support in what has historically resulted in long-term upside. Bitcoin (BTC) prepared a showdown with a key moving average (MA) price trend on Dec. 19 with time running out for a strong 2021 close.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"I vote we bounce and stay bull"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at $47,000 Sunday, still firmly in an established range.That price is currently the location of Bitcoin's one-year MA trendline, an important historical....
A push to $40,000-$42,000 won't protect Bitcoin from risks of undergoing a major price decline later, suggests a century-old price prediction model created by technical analyst titan Richard Wyckoff. Overconfident Bitcoin (BTC) bulls would need to battle more than just Elon Musk as a price prediction model — created by technical analyst pioneer Richard Wyckoff more than 100 years ago — also goes against their wild upside predictions.Dubbed as Wyckoff Method, the model involves a five-phase approach to determine price trends that majorly involve investors' psychological reaction to an....