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Bitcoin JUST Did Something for the FIRST TIME Since 2018 Crypto CRASH: Wyckoff Explained

Jason Pizzino
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Bitcoin’s Just Done Something for the First Time Since the Collapse in 2018: What This Means for the Future

Introduction

Bitcoin has recently experienced a significant event that hasn’t occurred since the collapse in 2018. This event provides us with valuable insights into both time and price projections for the next 12 months. Understanding these projections can help us navigate the different phases of the bull market and make informed decisions. In this article, we will explore the implications of this event and its potential impact on Bitcoin and the cryptocurrency market as a whole.

The Woff Schematic and Bitcoin’s Market Phases

To better understand the current state of Bitcoin, we can refer to the Woff schematic, which provides a framework for analyzing market cycles. The schematic consists of different phases, including accumulation, distribution, and reaccumulation. By examining Bitcoin’s price movements within this framework, we can gain insights into its current phase and potential future trends.

Based on the Woff schematic, Bitcoin’s recent price action suggests that it has entered phase two of the bull market. This phase is characterized by a breakout from the previous trading range and the beginning of a new upward trend. The market has shown signs of accumulation at higher prices, indicating a shift in sentiment and a potential market cycle bottom in November.

While some traders and analysts may still doubt the validity of this cycle low, a closer examination of the data supports the idea that Bitcoin has reached a turning point. The market has exhibited key characteristics of the Woff schematic, such as increasing volume during breakouts and decreasing volume during pullbacks. This further strengthens the case for a market cycle bottom and suggests that Bitcoin is poised for further growth.

Phase E and Stepping Stones

As Bitcoin enters phase E, we can expect to see a continuation of the upward trend with occasional setbacks and profit-taking. This phase is often characterized by reaccumulation by large market participants, also known as “stepping stones.” These stepping stones serve as intermediate trading ranges where both profit-taking and acquisition of additional shares occur.

During phase E, the market may experience short-lived shakeouts and typical reactions, but these setbacks are usually temporary. The overall trend remains bullish, and new higher-level trading ranges are established. These trading ranges act as stepping stones towards even higher price targets.

Bitcoin’s Time and Price Projections

To gain a better understanding of Bitcoin’s future price movements, we can analyze its historical patterns and apply them to the current market cycle. One useful tool for this analysis is the Gan swing indicator, which helps identify trend directions and key price levels.

By examining previous market cycles, we can observe that Bitcoin tends to break out of the 50% level from the cycle low within approximately 22 months. This breakout signals a significant shift in market sentiment and often leads to a period of accelerated growth. Based on this pattern, we can anticipate a potential breakout of the 50% level from the current cycle low in about 21-22 months.

Additionally, we can identify key price levels to watch, such as $32,000, $42,000, and $48,000. These levels may serve as important support and resistance zones over the next 12 months. While Bitcoin may test these levels and experience temporary pullbacks, it doesn’t necessarily mean that the market will never return to lower levels. Previous market cycles have shown that Bitcoin can revisit certain price ranges before continuing its upward trajectory.

Conclusion

Bitcoin’s recent price action and the analysis of the Woff schematic provide valuable insights into its current phase and potential future trends. By understanding the market cycles and key price levels, investors and traders can better position themselves to take advantage of the ongoing bull market. It’s important to have a well-defined plan and to continuously monitor the market for any changes or new opportunities.

Frequently Asked Questions (FAQs)

1. What is the Woff schematic?
The Woff schematic is a framework for analyzing market cycles, particularly in the context of Bitcoin. It consists of different phases, including accumulation, distribution, and reaccumulation, which help identify key turning points in the market.

2. How can the Gan swing indicator help in analyzing Bitcoin’s price movements?
The Gan swing indicator is a tool that helps identify trend directions and key price levels. By applying this indicator to Bitcoin’s historical data, we can gain insights into potential breakout points and the overall market sentiment.

3. What are the key price levels to watch in Bitcoin’s current market cycle?
Based on historical patterns, key price levels to watch in Bitcoin’s current market cycle include $32,000, $42,000, and $48,000. These levels may serve as important support and resistance zones and can provide valuable information about the market’s future direction.

4. How long does it typically take for Bitcoin to break out of the 50% level from the cycle low?
Historically, Bitcoin has taken approximately 22 months to break out of the 50% level from the cycle low. This breakout often signals a significant shift in market sentiment and can lead to a period of accelerated growth.

5. How can investors and traders make the most of the ongoing bull market?
To make the most of the ongoing bull market, it’s crucial to have a well-defined plan and to continuously monitor the market for any changes or new opportunities. By understanding market cycles, key price levels, and potential breakout points, investors and traders can position themselves strategically and maximize their chances of success.

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41 Comments

  3. So, what % chance can BTC be in wyckoff distribution schematic #1 right shoulder with higher high, I want to say phase c nearing phase d? Weekly or daily time frame, sorry not in front of computer now. Honestly, in my own research of the cycle history I don't really buy it, except for possibly another Mar or April bottom or black swan. Like say something bad is needed in the financial sector to start printing dollars and start lowering rates gradually, because the Fed has a lot coming due in the next couple of years or so and needs to borrow at 0 to pay it off. Sure, Jerome wants his legacy to be like volkers, but higher for longer in this century, can't be as long as he'd like IMO. Except for that and the bond market and that potential right shoulder, I'm all bull and ready to go all in, but buying at a much lower dip would be huge for me, this is my one shot. So maybe look at it as what % do I give it and I put that much in ? That's why I consider you the man, grounded and supported in your thesis and opinions and would love to hear your opinion of the % you give this to be a right shoulder high dipping into 2nd quarter 2024?

  4. The recent uptick in Bitcoin's value marks a significant moment in the cryptocurrency market, indicating not just a temporary spike but the onset of a potentially larger trend. This positive trajectory reflects growing investor confidence and suggests a broader shift toward global cryptocurrency acceptance. The movement presents a prime opportunity for investors, especially day traders, to capitalize on Bitcoin's bullish momentum, highlighting the importance of strategic investment during such pivotal market trends.

  6. I would say yes it will Jason if not for the us bond market and interest rates and debt issues. So I think their will be a short crash or black swan. Whether its banks or commercial real estate or wars or new pandemic or China economy, recessions, etc I think we get below that range for a short period, likely before May 2024.

  11. That's interesting. I wonder what influence will it have on BTC. I'll just keep buying it to keep in OWNR wallet until it hits $40,000, but I don't know when is it gonna happen.

  16. Great video regarding Crypto as always. Great point that big institutions are not buying in just yet and it's not the reason for recent pump. So what really caused the pump? Could be some of the bigger whales and larger private investors who won't lose their jobs but have been in crypto a long time like you, who understand the cycle and now see the conformation we're now actually in the Bull market and this could be the 2nd stage.

  21. We’re not talking about SOL being up 67% over the past month? I get BTC is the King but c’mon Jason, you’re ignoring huge indicators. The beginning stages of Alt coin season is starting now and no one is talking about it. The market is flipping

  22. We broke through major resistance. The SEC keeps losing in the courts against XRP/Ripple. It looks like it's only a matter of a few months until ETF's are approved in America. The fourth quarter is the most bullish quarter for Crypto. It's time to take off the bear suit if you are still wearing it.

  30. Embrace litecoin and bitcoin, the symbol of independence and financial freedom. As a peer-to-peer digital cash payment, litecoin (LTC) has incomparably cheaper transactions fees and is natively 10 times faster than bitcoin. Litecoin wasn't premined/ICO launched and isn't controlled by insiders, and there will be mined only 84 million litecoins. Being a digital silver and a truly decentralized, digitally mined commodity, not a security, litecoin wasn't issued by government or a corporation. LTC fungibility combined with the Lightning Network and enhanced level of privacy of its MimbleWimble (MWB) protocol make LTC especially congenial means of payment for secured financial transactions and for the store of value.w

  34. Institutions understand that you don't need to take the whole pie, just a nice slice of it each good opportunity you get.

    Translation: why try to predict the exact bottom? Just get on during the upwards bull run and have predetermined offloading targets.

  36. thanks jason! question for ya- on the fib tool, what does the "fib levels based on log" check box mean? or rather, i can tell what it means i believe but when should it be used? just if a chart is on log…? if im not mistaken you DONT have that box checked tho.. i'm confused, i digress…! (input from anyone appreciated)

  38. Hi Jason
    As you know Alessio has been bullish like you for a long time now. Well he has now flipped to a crash and bear market incoming on his latest YouTube. He has changed his mind due to a severe drop in a leading market indicator, the Dow Jones Transportation Index. What are your thoughts on the relevance of the DJT Index?

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