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’s latest pullback has not persuaded Blackbay Capital president Todd Butterfield to re-enter the market. In a fresh BTC/USD daily chart on Bitfinex, shared on X, the Wyckoff specialist reiterates: “Yes, I am still on the sidelines with#BTC. Our Wyckoff indicators are still not flashing BUY. We are new below the .382 retracement as well…”. […]
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....
After hitting a new two-year peak back in 2024, the Dogecoin price had trended downward, and the result of this was a move into a major accumulation trend. Since then, the meme coin has been caught in this accumulation trend, with the majority of the price action favoring a bearish market. But with the tides changing, there could be a different approach for the cryptocurrency as Dogecoin flashes what seems to be an end to the accumulation trend. The Wyckoff Accumulation Holding Back Dogecoin Crypto analyst Trader Tardigrade shared that the Dogecoin price has been caught in a massive....