{"id":396473,"date":"2019-09-18T19:00:27","date_gmt":"2019-09-18T19:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=396473"},"modified":"2024-06-11T13:25:33","modified_gmt":"2024-06-11T13:25:33","slug":"crypto-wyckoff-distribution-bitcoin-accumulation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-wyckoff-distribution-bitcoin-accumulation\/","title":{"rendered":"Crypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs"},"content":{"rendered":"

Throughout much of the bear market, one of the themes that kept crypto investor\u2019s hope alive in crypto investors was the thought that Bitcoin<\/a> was being accumulated, according to Wyckoff theory, at low prices by major players and institutions. After that, eventually, the markup phase would occur and the first-ever crypto-asset would be back in a bull market in no time.<\/span><\/p>\n

Now that Bitcoin price has indeed been marked up, by as much as 340% at its peak and is consolidating before its next move, the market appears undecided if it\u2019s in a reaccumulation or distribution phase. However, one crypto analyst says that the parabolic rally hasn\u2019t retraced quite enough, and that could lead to \u201cbrutal distribution.\u201d<\/span><\/p>\n

Wyckoff Method: Is Bitcoin in a Reaccumulation Phase or Is “Brutal Distribution” Coming?<\/h2>\n

Bitcoin price is currently locked inside a tightening trading range<\/a> within a triangle pattern formation and could break out in either direction ending the market\u2019s indecision and choosing the trend ahead<\/a>.<\/span><\/p>\n

If Bitcoin is to break up from the triangle<\/a>, the consolidation would be viewed as a reaccumulation phase before the crypto asset trends much higher, potentially setting a new all-time high and resuming a bull run.<\/span><\/p>\n

Related Reading | Poll: More Than Half of Bitcoin Investors Expect Triangle Breakout<\/a><\/strong><\/em><\/p>\n

However, if Bitcoin were to break down from the triangle, the consolidation may actually be distribution.<\/span><\/p>\n

https:\/\/twitter.com\/traderescobar\/status\/65282049?s=21<\/p>\n

As of now, Bitcoin has only retraced roughly 30% from its local high, and one crypto analyst suggests that this isn\u2019t enough, and is a sign that \u201cbrutal distribution\u201d may be ahead once the price starts falling.<\/span><\/p>\n

According to the Wyckoff method<\/a>, after accumulation comes the markup phase, followed by a distribution phase. The methodology adheres to the idea that supply and demand are in a constant fight for balance, and during distribution phases, the market begins to fall once the supply being sold into the market begins to outweigh demand.<\/span><\/p>\n

\"wyckoff<\/p>\n

In the above Wyckoff schematic depicting what a distribution phase looks like, the current Bitcoin price action since June has been superimposed over the schematic to demonstrate how they may or may not compare.<\/span><\/p>\n

Related Reading | Bitcoin Price Following 2016 Bull Market Reaccumulation Pattern<\/a><\/strong><\/em><\/p>\n

The two are remarkably similar until recently, where Phase C would be playing out. In the schematic, if this is indeed textbook Wyckoff distribution, the price would rise yet another time to the \u201clast point of supply\u201d which would sufficiently absorb any remaining demand before the supply overwhelmed that demand and prices begin to fall.<\/span><\/p>\n

\"bitcoin<\/p>\n

Alternatively, Bitcoin could be in a reaccumulation phase<\/a>, or the \u201csign of strength\u201d phase that validates the prior \u201cspring\u201d which would have been the December 2018 bear market bottom as can be seen in the chart above. If Bitcoin price<\/a> is in reaccumulation and not distribution, things will indeed get brutal, but only for bears shorting Bitcoin during a confirmed bull market.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Throughout much of the bear market, one of the themes that kept crypto investor\u2019s hope alive in crypto investors was the thought that Bitcoin was being accumulated, according to Wyckoff theory, at low prices by major players and institutions. After that, eventually, the markup phase would occur and the first-ever crypto-asset would be back in a bull market in no time. Now that Bitcoin price has indeed been marked up, by as much as 340% at its peak and is consolidating before its next move, the market appears undecided if it\u2019s in a reaccumulation or distribution phase. However, one crypto analyst says that the parabolic rally hasn\u2019t retraced quite enough, and that could lead to \u201cbrutal distribution.\u201d Wyckoff Method: Is Bitcoin in a Reaccumulation Phase or Is “Brutal Distribution” Coming? Bitcoin price is currently locked inside a tightening trading range within a triangle pattern formation and could break out in either direction ending the market\u2019s indecision and choosing the trend ahead. If Bitcoin is to break up from the triangle, the consolidation would be viewed as a reaccumulation phase before the crypto asset trends much higher, potentially setting a new all-time high and resuming a bull run. Related Reading | Poll: More Than Half of Bitcoin Investors Expect Triangle Breakout However, if Bitcoin were to break down from the triangle, the consolidation may actually be distribution. https:\/\/twitter.com\/traderescobar\/status\/65282049?s=21 As of now, Bitcoin has only retraced roughly 30% from its local high, and one crypto analyst suggests that this isn\u2019t enough, and is a sign that \u201cbrutal distribution\u201d may be ahead once the price starts falling. According to the Wyckoff method, after accumulation comes the markup phase, followed by a distribution phase. The methodology adheres to the idea that supply and demand are in a constant fight for balance, and during distribution phases, the market begins to fall once the supply being sold into the market begins to outweigh demand. In the above Wyckoff schematic depicting what a distribution phase looks like, the current Bitcoin price action since June has been superimposed over the schematic to demonstrate how they may or may not compare. Related Reading | Bitcoin Price Following 2016 Bull Market Reaccumulation Pattern The two are remarkably similar until recently, where Phase C would be playing out. In the schematic, if this is indeed textbook Wyckoff distribution, the price would rise yet another time to the \u201clast point of supply\u201d which would sufficiently absorb any remaining demand before the supply overwhelmed that demand and prices begin to fall. Alternatively, Bitcoin could be in a reaccumulation phase, or the \u201csign of strength\u201d phase that validates the prior \u201cspring\u201d which would have been the December 2018 bear market bottom as can be seen in the chart above. If Bitcoin price is in reaccumulation and not distribution, things will indeed get brutal, but only for bears shorting Bitcoin during a confirmed bull market.<\/p>\n","protected":false},"author":517,"featured_media":396474,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,6664,8585,55292,14988],"class_list":["post-396473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-crypto","tag-distribution","tag-reaccumulation","tag-wyckoff-method"],"acf":[],"yoast_head":"\nCrypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs<\/title>\n<meta name=\"description\" content=\"According to Wyckoff method, Bitcoin may be in either a distribution phase or an reaccumulation phase, and the crypto 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs","url":"http:\/\/wncen.com\/news\/crypto-wyckoff-distribution-bitcoin-accumulation\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-wyckoff-distribution-bitcoin-accumulation\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/crypto-bitcoin-wyckoff-distribution-accumulation-shutterstock_1066387436.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/crypto-bitcoin-wyckoff-distribution-accumulation-shutterstock_1066387436.jpg?fit=5375%2C3583"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","distribution","reaccumulation","wyckoff method"],"dateCreated":"2019-09-18T19:00:27Z","datePublished":"2019-09-18T19:00:27Z","dateModified":"2024-06-11T13:25:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-wyckoff-distribution-bitcoin-accumulation\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-wyckoff-distribution-bitcoin-accumulation\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/crypto-bitcoin-wyckoff-distribution-accumulation-shutterstock_1066387436.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/crypto-bitcoin-wyckoff-distribution-accumulation-shutterstock_1066387436.jpg?fit=5375%2C3583\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"distribution\",\"reaccumulation\",\"wyckoff method\"],\"dateCreated\":\"2019-09-18T19:00:27Z\",\"datePublished\":\"2019-09-18T19:00:27Z\",\"dateModified\":\"2024-06-11T13:25:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/crypto-bitcoin-wyckoff-distribution-accumulation-shutterstock_1066387436.jpg?fit=5375%2C3583","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/396473"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=396473"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/396473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/396474"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=396473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=396473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=396473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}