Bitcoin targets $36K key Wyckoff level, with altcoins set to ‘grind up heavier’
Conditions are conspiring to deliver fresh strength across altcoins, which suffered unduly as Bitcoin briefly hit levels below $30,000, a trader predicts. Bitcoin (BTC) headed toward a key Wyckoff level on Tuesday as BTC price action got traders excited about an altcoin surge.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewWyckoff in focus below $36,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading up 4.6% versus the previous day’s lows on Tuesday.After seeing tests of $33,000 support, bulls won out overnight, sending Bitcoin higher. Now, a key area....
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A trader forecasts that conditions are converging to a new Wyckoff level, bringing new strength among altcoins, which suffered disproportionately as Bitcoin momentarily fell below $30,000. Wyckoff Level Is Critical For Bulls On July 6, Bitcoin (BTC) was heading towards a critical Wyckoff level, as BTC price movement piqued traders’ interest in an altcoin rally. […]
Analysts warns that the Wyckoff Spring phase may still be in the future as mounting pressures could lead to another low in Bitcoin. The Wyckoff Accumulation technical chart pattern has become the latest trending topic when anticipating where the price of Bitcoin (BTC) may go next. Some analysts have said that BTC’s recent dip below $29,000 signaled the “Spring” phase, which will soon be followed by a climb higher. BTC/USDT price vs. Wyckoff Accumulation model. Source: TwitterWhile the bulls make the case for the continuation of the bull market trend seen earlier in 2021, others are warning....
Bitcoin price has erupted to more than $55,000, clearing any downtrend resistance and potentially signaling that the bull run is back on. The move might have taken bears by surprise, however, the blueprint for what happened was created around 90 years ago. Here is a history lesson on Richard Wyckoff, Wyckoff theory, and how the market wizard born in the 1800s was able to predict the price action of a digital asset that didn’t debut until the 2000s. Everything You Need To Know About Rickard Wyckoff And His Theory Richard Wyckoff was known, according to Wikipedia, as an American stock....
In this episode of NewsBTC’s daily technical analysis videos, we compare Bitcoin price action with Wyckoff accumulation schematics, price cycles and more. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 8, 2022 This video provides a detailed look at Bitcoin market cycles using Wyckoff theory and other cyclical tools. Is The Composite Man Behind Bitcoin Mark Down? Wyckoff theory is based on the idea that retail traders are regularly outsmarted by large operators he referred to as the Composite Man. It is also known for its phases of accumulation and....
The Puell Multiple — and Bitcoin price — can still dip further before a rebound takes hold, cautions analyst Rekt Capital. Bitcoin (BTC) kept traders guessing with rangebound action on June 30 after a push beyond $37,000 resistance ended in rejection.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewWyckoff stresses $32,300 supportData from Cointelegraph Markets Pro and TradingView showed a day of reversal for BTC/USD on Wednesday, the pair down 4.5% hitting $34,500.After accelerating upwards the day before, Bitcoin ran out of steam at $36,630 to begin a retracement which erased....