Category: Cryptocurrency News

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Spellfire, a legendary card-based NFT game powered by Ethereum and incorporating some unique features, has successfully completed its seed funding round. Terranova, x21 and Autonomy Capital have led 360,000 USD investment into the project, with more investors eyeing spellfire’s incoming private round. Spellfire has some unique features which make it stand out among its peers […]

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I have been a true believer of XLM Stellar since early 2016 and have been hodling since! I have never sold a single XLM since, I have only been adding more and more to my initial bag… I remember many stories and opinions, on how XLM is dead and that it had no future! I…
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The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and she insists financial information concerning where income derives from can get “hidden.” Janet Yellen […]

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 market investor. He also founded and acted as the editor of the Magazine of Wall Street in the early 1900s. Wyckoff himself was fascinated specifically in the underlying mechanics that caused trends to form or change. He spent much of his later career studying markets, and other investors of the time. Names of those he studied include Jesse Livermore, and JP Morgan. Related Reading | Ethereum Potentially Trades Inside Livermore Accumulation Cylinder Pattern Wyckoff believed in the idea of a “composite operator” or a singular mind that controls the ebb and flow of the market. Wyckoff then spent his final days in the 1930s examining the behaviors of this “composite operator” and came up with certain schematics that would tell traders if the market is in one of four distinct phases: accumulation, mark up, distribution, and mark down. Phases of re-accumulation and re-distribution are also common as mid-points before the cycle repeats. But how does this all apply to Bitcoin? In an article I shared last week on @newsbtc I suggested price action in #Bitcoin looked like distribution *before* the big drop. The video below is the *after*. pic.twitter.com/WwVs7YQxzb — Tony “The Bull” Spilotro (@tonyspilotroBTC) April 23, 2021 Bitcoin Price Breakout Could Be Predicted With 90-Year Old Schematic Bitcoin price action was in clear distribution when the leading cryptocurrency by market cap reached $65,000 in April 2021, as the tweet above demonstrates. Related Reading | Bulls Regain Control Over Bitcoin Trend Strength: What To Expect After crypto took a huge plunge in May, it was then up to the “composite operator” to decide if the asset would be re-distributed, or re-accumulated. The chart below makes it quite clear which of the two was happening. Wyckoff re-accummulation should lead to extensive mark up and new all-time highs | Source: BTCUSD on TradingView.com What should come next, is a mark up phase. And when that is over distribution will happen again and put a final end to the current bull cycle once and for all. At that point, watching for signs of re-distribution or accumulation at the bottom would be what the techniques designed more than 90 years ago would suggest. But that is only if you believe in the power of Wykcoff theory. Do you? Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com