Bitcoin
Bitcoin (BTC)
$65,112.00 -5.14389
Bitcoin price
Ethereum
Ethereum (ETH)
$3,377.68 -6.96405
Ethereum price
BNB
BNB (BNB)
$527.92 -7.75787
BNB price
Solana
Solana (SOL)
$185.02 -9.09033
Solana price
XRP
XRP (XRP)
$0.5994850 -4.26461
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000253 -12.59777
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000063 -22.54085
Pepe price
Bonk
Bonk (BONK)
$0.0000214 -22.25689
Bonk price
Bitcoin
Bitcoin (BTC)
$65,112.00 -5.14389
Bitcoin price
Ethereum
Ethereum (ETH)
$3,377.68 -6.96405
Ethereum price
BNB
BNB (BNB)
$527.92 -7.75787
BNB price
Solana
Solana (SOL)
$185.02 -9.09033
Solana price
XRP
XRP (XRP)
$0.5994850 -4.26461
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000253 -12.59777
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000063 -22.54085
Pepe price
Bonk
Bonk (BONK)
$0.0000214 -22.25689
Bonk price
Bitcoin
Bitcoin (BTC)
$65,112.00 -5.14389
Bitcoin price
Ethereum
Ethereum (ETH)
$3,377.68 -6.96405
Ethereum price
BNB
BNB (BNB)
$527.92 -7.75787
BNB price
Solana
Solana (SOL)
$185.02 -9.09033
Solana price
XRP
XRP (XRP)
$0.5994850 -4.26461
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000253 -12.59777
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000063 -22.54085
Pepe price
Bonk
Bonk (BONK)
$0.0000214 -22.25689
Bonk price
Bitcoin
Bitcoin (BTC)
$65,112.00 -5.14389
Bitcoin price
Ethereum
Ethereum (ETH)
$3,377.68 -6.96405
Ethereum price
BNB
BNB (BNB)
$527.92 -7.75787
BNB price
Solana
Solana (SOL)
$185.02 -9.09033
Solana price
XRP
XRP (XRP)
$0.5994850 -4.26461
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000253 -12.59777
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000063 -22.54085
Pepe price
Bonk
Bonk (BONK)
$0.0000214 -22.25689
Bonk price

The Crypto Lark says bitcoin breakout could happen soon

the-crypto-lark-says-bitcoin-breakout-could-happen-soon
Edited by
Markets
The Crypto Lark says bitcoin breakout could happen soon

The Crypto Lark sees the Wyckoff schematic as a valuable analytical tool, and shares his views on the bitcoin market in a recent YouTube video.

As the cryptocurrency market continues to experience ups and downs, many investors are wondering whether bitcoin (BTC) has reached its lowest point or if another market decline is on the horizon.

In a recent video, cryptocurrency analyst The Crypto Lark discusses the Wyckoff schematic as a tool to analyze market cycles and predict the next bull market top.

The Wyckoff schematic is a market analysis method that divides market cycles into several phases, helping investors navigate the complex world of cryptocurrencies. It highlights the importance of understanding supply and demand dynamics, as well as the impact of news media on market sentiment.

The Crypto Lark cautions against relying on news reports to predict market movements, as they can often be unreliable.

Bitcoin breakout in the face of FUD

The current cryptocurrency market has been plagued by FUD (fear, uncertainty, and doubt), particularly surrounding stablecoins like tether (USDT). However, the cycle will eventually pass and give way to a new narrative, potentially focusing on the strength of U.S. banks.

Using the Wyckoff method, The Crypto Lark analyzes the market’s accumulation and distribution phases. A consistent dominance of demand over supply is necessary for the market to continue rising, with signs of strength shown in widening price spreads and increasing volume.

You also might like: Polygon launches its much-anticipated zkEVM

According to Lark Davis, a trader and investor, bitcoin has entered phase E of the Wyckoff Accumulation Range, in which demand takes control and the stock leaves the trading range.

Davis predicts that bitcoin will experience temporary setbacks before transitioning into higher-level trading ranges, where traders will take profits and large operators will reaccumulate. He emphasizes the need for the market to adjust to new prices before attempting to pump higher and acknowledges the possibility of bitcoin falling and forming another accumulation before rising again.

Another popular cryptocurrency analyst, Nicholas Merten, shares similar views, stating that bitcoin may have entered an accumulation phase based on the Wyckoff accumulation schematic.

Merten believes this will lead to a markup phase, where demand outpaces supply. However, he cautions that this does not guarantee a new all-time high, as there could be redistribution around the $35,000 mark before a market fallback.

He asserts that nothing rises in a straight line and that periods below old all-time highs can be challenging. He likens the current situation to the bottoming process seen in 2018-2019.

Crypto analyst Alessio Rastani predicts a bull market top for bitcoin in September 2025, based on the Wyckoff schematic and previous timing cycles. Rastani believes the current phase is E, characterized by increasing trading volume and spreads to the upside.

While dips and shakeouts may occur, Rastani expects the cycle to lead to a new market top in 2025, possibly with a double peak.

The analysis follows a recent report that bitcoin’s on-chain data shows that the amount of bitcoin supply last active over 10 years ago has reached an all-time high of 2,673,268 BTC.

Read more: Do Kwon’s Montenegro detention extended, registered Serbian company before arrest as fugitive

Follow Us on Google News