How to trade crypto using Wyckoff accumulation theory
Not all Wyckoff accumulation setups lead to massive price rallies as far as the Bitcoin and cryptocurrency markets are concerned.
Not all Wyckoff accumulation setups lead to massive price rallies as far as the Bitcoin and cryptocurrency markets are concerned.
submitted by /u/hquer [link] [comments]
After weeks of consolidation, Bitcoin – the largest cryptocurrency by market capitalization – and the broader cryptocurrency market have witnessed a short-term bounce in response to Consumer Price Index data that exceeded expectations. The Labor Department of the United States reported that CPI climbed barely 0.1% between October and November. Last month, the inflation measure recorded a score of 7.1% compared to the projected 7.3%. Bitcoin Inching Closer To $18K The increase has brought the flagship cryptocurrency Bitcoin closer to the $18,000 level. At the time of writing, it is trading at $17,778 after a 24-hour increase of roughly 5%, data by market aggregator Coingecko shows. Related Reading: LINK Still On ETH Whales’ Shopping Cart Despite Dismal Performance In Last 7 Days For its part, Ethereum’s price has risen 4% over the past week to $1,321, maintaining a similar trajectory. Ahead of Tuesday’s trading session, stocks were also trading higher. Following the publication of CPI data, US futures soared. Futures on the Dow Jones Industrial Average rose 780 points, or 2.4%. Futures on the S&P 500 and Nasdaq 100 rose 2.9% and nearly 4%, respectively, in response to inflation data that exceeded expectations. Bitcoin has also reached a new four-week high as a result of the surge, with investors closely monitoring the asset’s price trajectory for a bottom that would likely pave the way for a fresh price flare-up. BTC total market cap at $342 billion on the daily chart | Chart: TradingView.com On Sam Bankman-Fried Arrest And Optimistic Forecast For BTC On Tuesday, Kitco News analyst Jim Wycoff noted, based on Bitcoin’s recent price momentum, that the leading cryptocurrency may have initiated a “bullish upside breakout.” According to Wycoff, today’s price movement appears to have marked the beginning of a strong upside breakout from Bitcoin’s sideways trading range on the daily bar chart, indicating that a price uptrend will emerge. Wycoff noted that Bitcoin bulls have amassed a near-term technical edge following a struggle of nearly equal proportions. This year has witnessed an extended crypto winter that has yet to show signs of thawing. If the LUNC decline wasn’t terrible enough, the FTX debacle was the proverbial final nail in the coffin that the broader crypto market required to seal their current negative mood. Related Reading: How Litecoin (LTC) Outperforms Other Top Cryptocurrencies In This Department Nonetheless, as the year 2022 draws to a close, the cryptocurrency market is exhibiting indications of fresh energy, allowing investors to usher in the new year on a positive note. Moreover, the arrest and detention of former FTX big boss Sam Bankman-Fried may have been the most significant cause in motivating the crypto enthusiasts to increase Bitcion price once again. As Bitcoinist reported today, the Bahamas government has recently refused Bankman-Fried bail, citing “significant flight risk.” Meanwhile, Bankman-Fried and his legal counsel have indicated their opposition to his extradition to the United States. His extradition hearing is set for February 8, 2023.
With so many posts about a certain coin lately, I just had to write this out because it’s reminiscing of the 2018 bear market. Talk to any crypto person who was here in the 2017 cycle and how many coins they thought definitely had a future. something like 70%+ (not sure the exact number) of…
Read more
Centralized validators is going so well isnt it? https://www.mevwatch.info/ VB gave into the WEF and opted into this climate change agenda. Still bullish on it however, all the CBDCs that will be made on it to rule over the lemmings will definitely be profitable. submitted by /u/Zachanater007 [link] [comments]
A White House spokesperson dodged point-blank questioning on whether President Joe Biden is planning to return the political donations from SBF.
Binance’s US arm has rolled out a feature for US customers called “Pay” which was launched by its global parent to users outside the US in 2021.
Alex Bornyakov is the Deputy Minister of Digital Transformation of Ukraine. He recently joined the Bitcoin.com News Podcast to talk about how the country is using cutting edge technologies such as cryptocurrencies, NFTs and web3 in face of the dreadful challenges of war. Among the topics discussed are how the crypto community’s charity is helping […]
submitted by /u/Electrical_Potato_21 [link] [comments]
The consultation paper will give an insight into how certain crypto assets should be regulated alongside frameworks for company licensing, asset custody and consumer protections under token mapping.