Wednesday, September 27, 2023
No Result
View All Result
Crypeto News
Smarter_way_USA
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
Crypeto News
No Result
View All Result

VIDEO: Bitcoin, Wyckoff Theory, And The Composite Man

by crypetonews
September 8, 2022
in Analysis
Reading Time: 5 mins read
0 0
A A
0
Home Analysis
Share on FacebookShare on Twitter


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 distribution, and the mark up and mark down phases that occur in between as the market goes through bullish and bearish cycles.

The recent price action continues to follow what looks a lot like Wyckoff accumulation. After breaching preliminary support, price reached the selling climax at $17,500. What we potentially just saw this week was a secondary test in phase B. that’s the good news. The bad news is that there could be a long time until we see high prices again.

A comparison with an Wyckoff accumulation schematic | Source: BTCUSD on TradingView.com

How A Spring Could Put An End To Crypto Winter

That was also just one of Wyckoff’s accumulation schematics. Another schematic example includes a final shakeout called a spring. Based on the schematic, the spring would occur some time around December and a breakout would occur in April. 

This is especially notable, because that is exactly when Bitcoin bottomed in 2018 and when the accumulation phases ended in 2019. Even more interesting, is the fact that December has frequently been a timing factor for tops and bottoms in Bitcoin all throughout its history.

BTCUSD_2022-09-08_14-39-39

Will we get a spring or not? | Source: BTCUSD on TradingView.com

Related Reading: WATCH: Ethereum Gains Momentum Ahead Of The Merge | ETHUSD September 6, 2022

Wyckoff, Gann, And Other Technical Analysis Greats

Even the 2017 peak was in December, which we are currently retesting for the umpteenth time. The month of December mysteriously was one of WD Gann’s favorite months to look for tops and bottoms, and it was due to how the Sun conjuncts Mercury while in Sagittarius.

Gann, like Wykoff was one of the all-time greats. Both are known as two of the five titans of finance, which include with Charles Merrill from Merrill Lynch, Charles Dow from Dow Theory and the Dow Jones Industrial Average, and Ralph Nelson Elliott who created Elliott Wave Theory.

Gann’s methodology was the most mystical of them all. Check out how flawlessly one of his tools, the Gann fan, called the breakout from the bear market and an incredible 500% advance in the example below.

BTCUSD_2022-09-08_14-42-38

Gann’s tools are based on geometry, angles, and time | Source: BTCUSD on TradingView.com

What To Make Of The Current BTCUSD Market Cycle

Markets are indeed cyclical, as Wyckoff and the other greats believed. The cycle begins with accumulation after an asset becomes oversold. Demand begins to outweigh supply and mark up begins. Then the composite man begins to slowly distribute on retail, before mark down begins and supply outweighs demand.  

It sounds simple, but this is just how it works. Bases on a visual inspection alone and how history has rhymed in the past, we could potentially be in or nearing accumulation and mark up will return soon enough.

BLX_2022-09-08_14-30-31

Is it almost time for another bull run? | Source: BTCUSD on TradingView.com

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program.

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com



Source link

Tags: BitcoinCompositeManTheoryVIDEOWyckoff
Previous Post

Metaverse Crypto Tokens To Watch Before Oct 11th!

Next Post

BTC UPDATE TODAY || BTC LIVE ANALYSIS || CRYPTO UPDATE TODAY || WHEN BTC BUY FOR LONG || RAHIEL

Related Posts

Here comes the death cross
Analysis

Here comes the death cross

September 27, 2023
4-Month Chart Dynamics Decoded By Crypto Analyst
Analysis

4-Month Chart Dynamics Decoded By Crypto Analyst

September 27, 2023
XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?
Analysis

XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?

September 26, 2023
Binance Coin forms a descending triangle above important support area. 2023 gains are gone.
Analysis

Binance Coin forms a descending triangle above important support area. 2023 gains are gone.

September 26, 2023
Should Investors Buy More Shiba Memu Tokens
Analysis

Should Investors Buy More Shiba Memu Tokens

September 25, 2023
Chainlink Spikes 10% On Weekly Chart As Market Sees Correction
Analysis

Chainlink Spikes 10% On Weekly Chart As Market Sees Correction

September 25, 2023
Next Post
BTC UPDATE TODAY || BTC LIVE ANALYSIS || CRYPTO UPDATE TODAY || WHEN BTC BUY FOR LONG || RAHIEL

BTC UPDATE TODAY || BTC LIVE ANALYSIS || CRYPTO UPDATE TODAY || WHEN BTC BUY FOR LONG || RAHIEL

Binance JUST RESPONDED To Terra Luna Classic Burn! 1.2% NOW HAPPENING? (Breaking News)

Binance JUST RESPONDED To Terra Luna Classic Burn! 1.2% NOW HAPPENING? (Breaking News)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

XRP Price Set For 250% Surge; Analyst Highlights Key Catalyst
Crypto Exchanges

XRP Price Set For 250% Surge; Analyst Highlights Key Catalyst

by crypetonews
September 21, 2023
0

Prominent analyst EGRAG CRYPTO has brought attention to the potential of a significant surge in the XRP price, based on...

What is Dall-E and How Does it Work?

What is Dall-E and How Does it Work?

September 22, 2023
What are Fractionalized NFTs and how do they actually work- PrimaFelicitas

What are Fractionalized NFTs and how do they actually work- PrimaFelicitas

September 25, 2023
The Safest Ways to Store Your Cryptocurrency [2023]

The Safest Ways to Store Your Cryptocurrency [2023]

September 21, 2023
Chainlink Recovery Stalls But Not Likely Over

Chainlink Recovery Stalls But Not Likely Over

September 22, 2023
Credibly Teams Up with Green Dot to Bring Better Banking Services to SMEs

Credibly Teams Up with Green Dot to Bring Better Banking Services to SMEs

September 27, 2023
  • Trending
  • Comments
  • Latest
Dogecoin Poised for a 150% Surge? Key Price Levels to Watch

Dogecoin Poised for a 150% Surge? Key Price Levels to Watch

September 8, 2023
ZTX Genesis Homes NFT Collection Sells Out At OpenSea On Market Debut

ZTX Genesis Homes NFT Collection Sells Out At OpenSea On Market Debut

September 7, 2023
How to Add MetaMask Authentication with Django in 5 Steps – Moralis Web3

How to Add MetaMask Authentication with Django in 5 Steps – Moralis Web3

August 29, 2022
Ralph Lauren CEO on Prices, Sustainability, and the Metaverse

Ralph Lauren CEO on Prices, Sustainability, and the Metaverse

August 17, 2023
Ethereum Price Could See Lift-off Unless This Support Gives Way

Ethereum Price Could See Lift-off Unless This Support Gives Way

September 7, 2023
Solana Python API – How to Use the Solana API in Python

Solana Python API – How to Use the Solana API in Python

January 24, 2023
Bitcoin Holders…Brace Yourselves for This

Bitcoin Holders…Brace Yourselves for This

45
Gareth Soloway: “Bitcoin Going to $15k.. But What Comes Next Will SHOCK You!”

Gareth Soloway: “Bitcoin Going to $15k.. But What Comes Next Will SHOCK You!”

34
[WARNING] FTX is Going to DUMP Bitcoin, Solana and Other Crypto

[WARNING] FTX is Going to DUMP Bitcoin, Solana and Other Crypto

34
I played the worst metaverse so you dont have to – Income Island, Scam or not?

I played the worst metaverse so you dont have to – Income Island, Scam or not?

43
iShowSpeed Scammer Threatens His Haters

iShowSpeed Scammer Threatens His Haters

37
Top Polygon NFT Digital Assets Today!

Top Polygon NFT Digital Assets Today!

8
Kraken Targets US Stocks and ETFs

Kraken Targets US Stocks and ETFs

September 27, 2023
Artists, writers, performers and their advocates call on US Congress to ban companies from copyrighting AI-generated art

Artists, writers, performers and their advocates call on US Congress to ban companies from copyrighting AI-generated art

September 27, 2023
Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil

Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil

September 27, 2023
How Ethereum Staking Stacks Up in the Proof-of-Stake Landscape

How Ethereum Staking Stacks Up in the Proof-of-Stake Landscape

September 27, 2023
Credibly Teams Up with Green Dot to Bring Better Banking Services to SMEs

Credibly Teams Up with Green Dot to Bring Better Banking Services to SMEs

September 27, 2023
A Gateway for Newcomers within Crypto

A Gateway for Newcomers within Crypto

September 27, 2023
Crypeto News

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Crypeto News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Videos
  • Web3

LATEST UPDATES

  • Kraken Targets US Stocks and ETFs
  • Artists, writers, performers and their advocates call on US Congress to ban companies from copyrighting AI-generated art
  • Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In