{"id":13273,"date":"2023-09-17T17:35:14","date_gmt":"2023-09-17T17:35:14","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=13273"},"modified":"2023-09-17T17:35:15","modified_gmt":"2023-09-17T17:35:15","slug":"btc-price-shows-textbook-wyckoff-moves-as-bitcoin-bulls-defend-25k","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13273","title":{"rendered":"BTC price shows \u2018textbook\u2019 Wyckoff moves as Bitcoin bulls defend $25K"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) consolidated higher on Sept. 15 as analysis described recent BTC price behavior as \u201ctextbook.\u201d<\/p>\n<p><em>BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<h2>Analyst on Bitcoin: \u201cSeptember is not rektember\u201d<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency focusing on $26,600 \u2014 below a key breakout level.<\/p>\n<p>Bitcoin had shrugged off the latest United States macroeconomic data reports the day prior, joining traditional markets in heading higher despite hints that inflation was more stubborn than expected.<\/p>\n<p>Amid a renewed bullish mood, Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, was hopeful that BTC\/USD would avoid new lows.<\/p>\n<p>\u201cBitcoin might be able to activate a potential bullish breakout, although we need to make sure that it doesn\u2019t retest the lows again,\u201d he wrote in part of a dedicated\u00a0post on X (formerly Twitter) on Sept. 14.<\/p>\n<p>Referencing news that Germany\u2019s largest lender, Deutsche Bank, had applied for a crypto custody licence, van de Poppe eyed $25,000 as a level for bulls to steer the market away from.<\/p>\n<p>\u201cWe\u2019ve seen a sweep at $25,000 and should be holding up on higher numbers. In that case, we should be holding $25,600\u201325,900 as beneath there we\u2019ll see a ton of stops to be activated before we can actually see some movements,\u201d he suggested.<\/p>\n<p><em>BTC\/USD 1-week chart with 200 EMA. Source: TradingView<\/em><\/p>\n<p>Despite remaining below a cluster of key moving averages (MAs), the 200-week exponential moving average (EMA) continues to act as support \u2014 reclaimed in March and an important feature at the start of any bull market.<\/p>\n<p>\u201cI think that the odds of the low to be in on this cycle have increased. Why? Well, we\u2019re again holding above the 200-Week EMA and most likely will be closing above that again for this one,\u201d van de Poppe continued.<\/p>\n<p>\u201cSeptember is not rektember and seems to be that we\u2019ll be having continuation from here.\u201d<em>BTC\/USD annotated chart. Source: Micha\u00ebl van de Poppe\/X<\/em><\/p>\n<p>He highlighted $26,800 \u2014 the previous day\u2019s high \u2014 as the line in the sand to break through.<\/p>\n<h2>Wyckoff reveals classic BTC price rebound<\/h2>\n<p>Taking an optimistic long-range view, meanwhile, trading resource Stockmoney Lizards likewise concluded that further BTC price upside should come next.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price can hit $46K by 2024 halving \u2014 Interview with Filbfilb<\/em><\/strong><\/p>\n<p>X analysis compared the past year\u2019s price action to an extended \u201caccumulation\u201d phase using the Wyckoff method.<\/p>\n<p>This describes the price cycles of an asset, and correctly identifying the trigger after a swing low, known as the \u201cSpring\u201d in Wyckoff, can reveal the beginning of a new uptrend or a return to a previous higher trading range.<\/p>\n<p>For Stockmoney Lizards, the Spring occurred after BTC\/USD bottomed out in late 2022.<\/p>\n<p>\u201cWe have seen the spring in January, breakout end of March, and now the second throwback. Textbook Wyckoff behaviour,\u201d it commented.<\/p>\n<p><em>BTC\/USD comparative chart. Source: Stockmoney Lizards\/X<\/em><\/p>\n<p><em><strong><em>Collect this article as an NFT<\/em><\/strong><em> to preserve this moment in history and show your support for independent journalism in the crypto space.<\/em><\/em><\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/btc-price-textbook-wyckoff-bitcoin-bulls-defend-25k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) consolidated higher on Sept. 15 as analysis described recent BTC price behavior as \u201ctextbook.\u201d BTC\/USD 1-hour chart. Source: TradingView Analyst on Bitcoin: \u201cSeptember is not rektember\u201d Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency focusing on $26,600 \u2014 below a key breakout level. Bitcoin had shrugged off the latest United [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13273"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13273\/revisions"}],"predecessor-version":[{"id":13275,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13273\/revisions\/13275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13274"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}