{"id":439239,"date":"2020-09-22T01:00:16","date_gmt":"2020-09-22T01:00:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=439239"},"modified":"2024-06-11T14:16:41","modified_gmt":"2024-06-11T14:16:41","slug":"beware-bitcoin-price-action-mimics-market-maker-model","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/beware-bitcoin-price-action-mimics-market-maker-model\/","title":{"rendered":"Beware: Bitcoin Price Action Mimics Market Maker Model"},"content":{"rendered":"

Bitcoin price<\/a> just plunged once again from over $11,000 and is currently holding around $10,500. The support level could just be a quick pitstop before the selloff continues, according to the recent price action resembling the “market maker profile sell model.”<\/p>\n

If the cryptocurrency continues to follow the projected path this particular model predicts, Bitcoin could fall to new local lows, or worse.<\/p>\n

Bitcoin Market Maker Sell Model: Wyckoff Distribution By Another Name<\/h2>\n

When an asset falls to attractive prices, it is accumulated by smart money investors<\/a> who take a positon ahead of a large price increase. This transition from accumulation phase to mark up often results in a strong climb to a higher level, where a pause takes place before another rise.<\/p>\n

This is exactly what happened when Bitcoin touches its current bear market bottom at $3,200<\/a> and then rocketed to $14,000 in a matter of months.<\/p>\n

Related Reading | Bitcoin \u201cDistribution\u201d Could Lead To Another Arm And A Leg Down<\/a><\/strong><\/em><\/p>\n

The same sort of theory is true in inverse for Bitcoin or any other assets. According to Wyckoff distribution models<\/a> \u2013 which some analysts claim<\/a> matches the cryptocurrency’s recent top price action \u2013 after distribution, comes mark down, then the cycle repeats.<\/p>\n

That type of sell model very closely matches recent Bitcoin trading action, however, another more ominous looking sell model has also surfaced that suggests new lows could be set.<\/p>\n

\"btcusd<\/p>\n

BTCUSD Daily Line Chart Market Maker Sell Model Example Zoomed In | Source: TradingView<\/a><\/pre>\n
Does The Crypto Market Mimicking This Structure Suggest New Lows Are Next?<\/h2>\n
In the market maker profile sell model, there is risk of another low, depicted in the comparison chart below. The same model from above when zoomed out matches areas of prevous interest on the asset’s daily price chart.<\/p>\n
The next potential level, if the model continues to follow, would be around the $8,500 to $7,400 range, where Bitcoin bounced from for the record-setting October 2019 China pump<\/a>.<\/p>\n
\"btcusd<\/p>\n
BTCUSD Daily Line Chart Market Maker Sell Model Example Zoomed Out | Source: TradingView<\/a><\/pre>\n
In the market maker sell model, it predicts a deeper drop than what Bitcoin experienced on Black Thursday, potentially back to support where the asset broke out from its bear market bottom for yet another retest.<\/p>\n
Related Reading | Financial Advisory Group: Bitcoin Would Be 40% More Valuable Without Manipulation<\/a><\/strong><\/em><\/p>\n
If Bitcoin’s bottom holds yet again, for a third time, it could finally be considered unbreakable. During Bitcoin’s last bull market, a triple bottom acted as the grand finale before the greatest bull run ever seen.<\/p>\n
But if the bottom doesn’t hold, there could be another box below the green that gets filled in with some price action, and that’s not what any crypto investors want to see.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price just plunged once again from over $11,000 and is currently holding around $10,500. The support level could just be a quick pitstop before the selloff continues, according to the recent price action resembling the “market maker profile sell model.” If the cryptocurrency continues to follow the projected path this particular model predicts, Bitcoin could fall to new local lows, or worse. Bitcoin Market Maker Sell Model: Wyckoff Distribution By Another Name When an asset falls to attractive prices, it is accumulated by smart money investors who take a positon ahead of a large price increase. This transition from accumulation phase to mark up often results in a strong climb to a higher level, where a pause takes place before another rise. This is exactly what happened when Bitcoin touches its current bear market bottom at $3,200 and then rocketed to $14,000 in a matter of months. Related Reading | Bitcoin \u201cDistribution\u201d Could Lead To Another Arm And A Leg Down The same sort of theory is true in inverse for Bitcoin or any other assets. According to Wyckoff distribution models \u2013 which some analysts claim matches the cryptocurrency’s recent top price action \u2013 after distribution, comes mark down, then the cycle repeats. That type of sell model very closely matches recent Bitcoin trading action, however, another more ominous looking sell model has also surfaced that suggests new lows could be set. BTCUSD Daily Line Chart Market Maker Sell Model Example Zoomed In | Source: TradingView Does The Crypto Market Mimicking This Structure Suggest New Lows Are Next? In the market maker profile sell model, there is risk of another low, depicted in the comparison chart below. The same model from above when zoomed out matches areas of prevous interest on the asset’s daily price chart. The next potential level, if the model continues to follow, would be around the $8,500 to $7,400 range, where Bitcoin bounced from for the record-setting October 2019 China pump. BTCUSD Daily Line Chart Market Maker Sell Model Example Zoomed Out | Source: TradingView In the market maker sell model, it predicts a deeper drop than what Bitcoin experienced on Black Thursday, potentially back to support where the asset broke out from its bear market bottom for yet another retest. Related Reading | Financial Advisory Group: Bitcoin Would Be 40% More Valuable Without Manipulation If Bitcoin’s bottom holds yet again, for a third time, it could finally be considered unbreakable. During Bitcoin’s last bull market, a triple bottom acted as the grand finale before the greatest bull run ever seen. But if the bottom doesn’t hold, there could be another box below the green that gets filled in with some price action, and that’s not what any crypto investors want to see.<\/p>\n","protected":false},"author":517,"featured_media":439244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1119,1144,82859,78790,6664,8585,83163,4524,76835],"class_list":["post-439239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdc","tag-btcusdt","tag-crypto","tag-distribution","tag-market-marker","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nBeware: Bitcoin Price Action Mimics Market Maker Model<\/title>\n<meta name=\"description\" content=\"Bitcoin price just plunged once again from over $11,000 and is currently holding around $10,500. 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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. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Beware: Bitcoin Price Action Mimics Market Maker Model","url":"http:\/\/uniquehot.com\/news\/beware-bitcoin-price-action-mimics-market-maker-model\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/beware-bitcoin-price-action-mimics-market-maker-model\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-marker-maker-Depositphotos_202183922_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-marker-maker-Depositphotos_202183922_xl-2015-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdc","btcusdt","crypto","distribution","market marker","xbt","xbtusd"],"dateCreated":"2020-09-22T01:00:16Z","datePublished":"2020-09-22T01:00:16Z","dateModified":"2024-06-11T14:16:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Beware: Bitcoin Price Action Mimics Market Maker Model\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/beware-bitcoin-price-action-mimics-market-maker-model\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/beware-bitcoin-price-action-mimics-market-maker-model\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/bitcoin-price-marker-maker-Depositphotos_202183922_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/bitcoin-price-marker-maker-Depositphotos_202183922_xl-2015-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdc\",\"btcusdt\",\"crypto\",\"distribution\",\"market marker\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-09-22T01:00:16Z\",\"datePublished\":\"2020-09-22T01:00:16Z\",\"dateModified\":\"2024-06-11T14:16:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-marker-maker-Depositphotos_202183922_xl-2015-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/439239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=439239"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/439239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/439244"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=439239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=439239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=439239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}