The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Bitcoin

Bitcoin Wyckoff Pattern Invalidated As BTC Price Fails to Claim $33,000 Support

by Miki 06/28/2021
by Miki 06/28/2021 0 comment

Bitcoin is set to close another weekend since May 27th when it traded below the $40,000 psychological level. A mix of both bullish and bearish news has kept the premier digital currency at least by 49% below its all-time high (ATH) price above $64,000. 

Much recently, the price of Bitcoin was perceived to be setting off the Wyckoff trade pattern. However, according to analyst Rekt Capital, the fact that the cryptocurrency broke the $30,000 support level to trade at a low of $28,893.62 in the past week has invalidated the Wyckoff pattern possibility.

#BTC failed to turn $33,000 into support and has invalidated the series of Higher Lows it had formed since the supposed Wyckoff Spring to $29,000

The idea of a Wyckoff Accumulation Range itself has therefore been invalidated$BTC #Crypto #Bitcoin https://t.co/awJa8Sc9tI pic.twitter.com/5if0tqIZNt

— Rekt Capital (@rektcapital) June 26, 2021

The Wyckoff pattern is often set when a trading range is preceded by an accumulation phase. In the past months, we have seen a broad accumulation of Bitcoin by institutional investors, hedge funds, and retail investors. A series of Fear, Uncertainty, and Doubt (FUD) was ushered into the market in relation to the digital currency’s energy usage.

The trading range in the Wyckoff pattern is expected to attain “a failure point or spring that marks a selling climax, ahead of a strong trend that eventually exits the opposite side of the range.” As identified by Rekt Capital and other analysts, Bitcoin would have confirmed the formation of this pattern should Bitcoin had formed strong support at $33,000.

What Next For Bitcoin?

Now that the Wyckoff pattern has been invalidated, the digital currency will be looking at finding new sustainable support, which may likely be at the $32,000 price mark. At the moment, there is a sign of building accumulation on the BTC-USD 4-hour chart, however, the embrace of the neutral line of the Bollinger Bands shows the influence of the bulls is not overpowering yet. 

Source: TradingView

While the market may tilt in either direction at this time, a little more buying pressure at the start of the new week could see price retracing back to $35,000, and eventually $40,000 in the short to mid-term.



Source link

Views: 2
BitcoinBTCClaimFailsInvalidatedPatternpriceSupportWyckoff
Share
0
FacebookTwitterPinterestEmail
previous post
UK Financial Regulator Restricts Binance Crypto Business
next post
Middle East Eyes for Strong Potential Cryptocurrency Market

Related Posts

Elon Musk thinks this individual could be the...

12/29/2021

Bitcoin price trades under $48k as $6 billion...

12/29/2021

Indian security regulator warns mutual funds against investing...

12/29/2021

Bitcoin Will Remain ‘Digital Gold’, But Not A...

12/29/2021

Key Factors that Propelled Ether’s 4X Growth over...

12/28/2021

Gold Proponent Peter Schiff Claims Bitcoin is Losing...

12/28/2021

Trend Is Again Shifting From Outflows To Inflows

12/28/2021

Why Bitcoin Will Never Surpass The Market Cap...

12/28/2021

Crypto hacks led to $9.8 billion in losses...

12/28/2021

Is Bitcoin (BTV) Going To Hit $100k? Ambitious...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Ethereum Whales Go On Buying Spree, Top 10 Addresses Now Own 20% Of All ETH

  • Bitcoin Whales: Why They Matter and Who They Are

  • Bullish Signal? Ethereum Market Dominance Sitting Above 20%

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,327.00-2.58%
  • ethereumEthereum(ETH)$1,972.48-1.71%
  • tetherTether(USDT)$1.00-0.06%
  • usd-coinUSD Coin(USDC)$1.00-0.09%
  • binancecoinBNB(BNB)$303.30-0.48%
  • rippleXRP(XRP)$0.413741-1.25%
  • Binance USDBinance USD(BUSD)$1.000.14%
  • cardanoCardano(ADA)$0.52-2.41%
  • SolanaSolana(SOL)$50.51-2.66%
  • dogecoinDogecoin(DOGE)$0.084899-1.65%
  • polkadotPolkadot(DOT)$9.78-2.30%
  • Lido Staked EtherLido Staked Ether(STETH)$1,940.21-1.57%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,307.00-2.70%
  • AvalancheAvalanche(AVAX)$29.38-1.10%
  • tronTRON(TRX)$0.071144-3.35%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-0.82%
  • daiDai(DAI)$1.00-0.13%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$69.17-2.56%
  • CronosCronos(CRO)$0.188806-2.97%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.990.56%
  • matic-networkPolygon(MATIC)$0.64-0.45%
  • FTX TokenFTX Token(FTT)$29.91-2.48%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.86-2.50%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$193.81-0.05%
  • RareRare(RARE)$0.0461220.00%
  • cosmosCosmos Hub(ATOM)$11.336.08%