Crash

Rally

bullish

Bitcoin

Bitcoin Legend

<p>The post <a href="https://coinpedia.org/news/btc-news-is-bitcoin-preparing-for-a-bullish-rally-with-wyckoff-accumulation/">BTC News: Wyckoff Accumulation Suggests Bitcoin Breakout</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Many believe Bitcoin is on the verge of a major bullish rally. But will it happen this month? Maybe, or maybe not. One thing is certain: a significant upward movement is on the horizon. A recent post by Bitcoinsensus hints that large investors, often referred to as “whales,” are quietly positioning themselves to capitalize on the potential uptrend in the Bitcoin market. </p> 
<p>But how are they doing this?</p> 
<h2 class="wp-block-heading" id="h-is-bitcoin-in-a-wyckoff-accumulation-phase">Is Bitcoin in a Wyckoff Accumulation Phase?</h2> 
<p>The post, shared on X by Bitcoinsensus, raises the question of whether the Bitcoin market is currently experiencing a Wyckoff accumulation phase.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">We could be witnessing a Wyckoff accumulation phase unfolding right now for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> –– this pattern is often designed to shake out weaker hands before the price begins its rally. <a href="https://t.co/buT7YKJJAt">pic.twitter.com/buT7YKJJAt</a></p>— Bitcoinsensus (@Bitcoinsensus) <a href="https://twitter.com/Bitcoinsensus/status/1830923699379482909?ref_src=twsrc%5Etfw">September 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Generally, in such a phase, a market experiences an increased participation of large investors and a decreased participation of short-term investors. The market appears to be in a state of either uncertainty or even decline. Once the phase is completed, the market enters a period of growth.&nbsp;</p> 
<p>To support the theory, Bitcoinsensus shares a chart suggesting that the Bitcoin market might indeed be entering a Wyckoff accumulation phase.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="825" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/09/03185942/image-61.png" alt="" class="wp-image-346679" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/03185942/image-61.png 825w, https://image.coinpedia.org/wp-content/uploads/2024/09/03185942/image-61-275x300.png 275w, https://image.coinpedia.org/wp-content/uploads/2024/09/03185942/image-61-768x838.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/03185942/image-61-150x164.png 150w" sizes="(max-width: 825px) 100vw, 825px">
</figure> 
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis-nbsp">Bitcoin Price Analysis&nbsp;</h2> 
<p>As of now, Bitcoin is priced at $59,210. At the beginning of last month, on August 1st, 2024, it hovered around $65,310. By the end of the month, it had dipped to $58,987—still higher than the month’s low of $53,977. Although September opened with a red candlestick, dropping the price to $57,333, yesterday saw a green candlestick, pushing the price back up to $59,133 in a single day.</p> 
<p>If Bitcoin is indeed in a Wyckoff accumulation phase, a strong bullish trend could be imminent. Those entering the market now stand to gain the most from this potential uptrend. However, can we definitively say the market is in this phase? That remains a tough question to answer.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/could-cardano-ada-price-fall-90-blockstream-ceo-predicts-massive-plunge/" target="_blank" rel="noreferrer noopener">Red Alert for Cardano Price! Bitcoin Legend Warns of 90% ADA Crash</a></p>

BTC News: Wyckoff Accumulation Suggests Bitcoin Breakout

Table of Contents

CoinPedia News

Other articles published on Sep 3, 2024

Donald Trump Announces New Crypto Project "The DeFiant Ones," Aims to Serve Unbanked Communities

Ripple’s Legal Chief Blasts SEC for Using ‘Fabricated’ Term in Crypto Cases

Forgd is Reinventing Web3 Advisory with Free Tools for Tokenomics Design, Liquidity Monitoring, a...

Nexo Resumes New Client Registrations in the UK Amid FCA Compliance

Yield Guild Games Optimizes Virtual Assets

Bitcoin Slides 6% Below $60,000: Key Factors Behind the Recent Drop

Join our free newsletter for daily crypto updates!