Bitcoin Eyes $36K As Wyckoff Level As Altcoins Prepare To Surge
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. […]
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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....
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....
Earlier this week, all eyes were on Bitcoin, not DeFi. The leading cryptocurrency shot a handful of percent higher while altcoins actually began to move lower against the dollar, sometimes by 5-10%. Some DeFi coins actually dropped 15% on the day that Bitcoin shot 2-3%. This trend did not persist, though. Altcoins have begun to […]