{"id":501657,"date":"2022-09-08T18:50:48","date_gmt":"2022-09-08T18:50:48","guid":{"rendered":"https:\/\/wncen.com\/?p=501657"},"modified":"2024-06-11T13:42:23","modified_gmt":"2024-06-11T13:42:23","slug":"bitcoin-wyckoff-theory-september-8-2022","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-wyckoff-theory-september-8-2022\/","title":{"rendered":"WATCH: Bitcoin, Wyckoff Theory, And The Composite Man | BTCUSD September 8, 2022"},"content":{"rendered":"<p>In this episode of NewsBTC&#8217;s <a href=\"https:\/\/www.youtube.com\/watch?v=VXfyLKxyCCw&amp;list=PLcOfhdUALFaOXvxuoWoCWZoYXc7iq-brg\" target=\"_blank\" rel=\"noopener nofollow\">daily technical analysis videos<\/a>, <span style=\"font-weight: 400\">we compare Bitcoin price action with Wyckoff accumulation schematics, price cycles and more.<\/span><\/p>\n<p>Take a look at the video below:<\/p>\n<h2>VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0September 8, 2022<\/h2>\n<p style=\"font-weight: 400\">This video provides a detailed look at Bitcoin market cycles using <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-wyckoff-distribution\/\">Wyckoff theory<\/a> and other cyclical tools.<\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<h3>Is The Composite Man Behind Bitcoin Mark Down?<\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">Wyckoff theory is based on the idea that retail traders are regularly outsmarted by large operators he referred to as the Composite Man.\u00a0<\/span><span style=\"font-weight: 400\">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.<\/span><\/p>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">The recent price action continues to follow what looks a lot like <a href=\"https:\/\/school.stockcharts.com\/doku.php?id=market_analysis:the_wyckoff_method\" target=\"_blank\" rel=\"noopener nofollow\">Wyckoff accumulation<\/a>. 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\u2019s the good news. The bad news is that there could be a long time until we see high prices again.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-501660 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-08_14-34-59.png?resize=860%2C489\" alt=\"BTCUSD_2022-09-08_14-34-59\" width=\"860\" height=\"489\"><\/p>\n<pre style=\"text-align: center\">A comparison with an Wyckoff accumulation schematic | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<h3>How A Spring Could Put An End To Crypto Winter<\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">That was also just one of Wyckoff\u2019s 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.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">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 <a href=\"https:\/\/wncen.com\/topic\/tops-and-bottoms\/\">tops and bottoms<\/a> in Bitcoin all throughout its history.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-501662 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-08_14-39-39.png?resize=860%2C489\" alt=\"BTCUSD_2022-09-08_14-39-39\" width=\"860\" height=\"489\"><\/p>\n<pre style=\"text-align: center\">Will we get a spring or not? | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/watch-ethereum-merge-ethusd\/\">WATCH: Ethereum Gains Momentum Ahead Of The Merge | ETHUSD September 6, 2022<\/a><\/p>\n<h3>Wyckoff, Gann, And Other Technical Analysis Greats<\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">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\u2019s favorite months to look for tops and bottoms, and it was due to <a href=\"https:\/\/en.wikipedia.org\/wiki\/William_Delbert_Gann#Trading_techniques\" target=\"_blank\" rel=\"noopener nofollow\">how the Sun conjuncts Mercury while in Sagittarius<\/a>.<\/span><\/p>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">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 <a href=\"https:\/\/bit.ly\/2Wm62le\" target=\"_blank\" rel=\"noopener nofollow\">Elliott Wave Theory<\/a>.<\/span><\/p>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">Gann\u2019s 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.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-501663 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-08_14-42-38.png?resize=860%2C489\" alt=\"BTCUSD_2022-09-08_14-42-38\" width=\"860\" height=\"489\"><\/p>\n<pre style=\"text-align: center\">Gann's tools are based on geometry, angles, and time | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<h3>What To Make Of The Current BTCUSD Market Cycle<\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">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 <a href=\"https:\/\/wncen.com\/analysis\/btc\/the-bearish-bitcoin-chart-bulls-definitely-dont-want-to-see\/\">distribute on retail<\/a>, before mark down begins and supply outweighs demand.\u00a0\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">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.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-501659 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BLX_2022-09-08_14-30-31.png?resize=860%2C489\" alt=\"BLX_2022-09-08_14-30-31\" width=\"860\" height=\"489\"><\/p>\n<pre style=\"text-align: center\">Is it almost time for another bull run? | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Learn crypto technical analysis yourself with the NewsBTC Trading Course. <a href=\"https:\/\/wncen.com\/trading-courses\/\">Click here<\/a> to access the free educational program.<\/p>\n<p><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/tonyspilotroBTC\" rel=\"nofollow\"><b><i>@TonySpilotroBTC on Twitter<\/i><\/b><\/a><b><i> or join\u00a0<\/i><\/b><a href=\"https:\/\/t.me\/TonyTradesBTC\" rel=\"nofollow\"><b><i>the TonyTradesBTC Telegram<\/i><\/b><\/a><b><i> for exclusive daily market insights and technical analysis education<\/i><\/b><b><i>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n<pre>Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>In this episode of NewsBTC&#8217;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):\u00a0September 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.\u00a0It 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\u2019s 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\u2019s 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.\u00a0 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. 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\u2019s 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\u2019s 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. Gann&#8217;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.\u00a0\u00a0 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. 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\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":501658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-501657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>VIDEO: Bitcoin, Wyckoff Theory, And The Composite Man | BTCUSD<\/title>\n<meta name=\"description\" content=\"In this episode of NewsBTC&#039;s daily technical analysis videos, we compare Bitcoin price action with Wyckoff accumulation schematics, price cycles and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-wyckoff-theory-september-8-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VIDEO: Bitcoin, Wyckoff Theory, And The Composite Man | BTCUSD\" \/>\n<meta property=\"og:description\" content=\"In this episode of NewsBTC&#039;s daily technical analysis videos, we compare Bitcoin price action with Wyckoff accumulation schematics, price cycles and more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-wyckoff-theory-september-8-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-08T18:50:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:42:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Screen-Shot-2022-09-08-at-2.00.16-PM.png?fit=2380%2C1348\" \/>\n\t<meta property=\"og:image:width\" content=\"2380\" \/>\n\t<meta property=\"og:image:height\" content=\"1348\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; 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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. 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