{"id":381217,"date":"2019-05-07T20:00:37","date_gmt":"2019-05-07T20:00:37","guid":{"rendered":"https:\/\/wncen.com\/?p=381217"},"modified":"2024-06-11T07:40:16","modified_gmt":"2024-06-11T07:40:16","slug":"crypto-analyst-bitcoin-price-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-price-btc\/","title":{"rendered":"Crypto Analyst: Bitcoin May Monthly Candle Close Confirms Bull Market or Accumulation"},"content":{"rendered":"<p>As <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> nears closer to important resistance at $6,000, it\u2019s clear that the leading cryptocurrency by market cap is at an <a href=\"https:\/\/wncen.com\/2019\/05\/07\/bitcoin-btc-price-rally-inflection-point\/\">inflection point<\/a>, and where it goes next could set the tone for the following months to years.<\/p>\n<p>An early April rally made the month an easy green close for Bitcoin, as the price of the crypto asset rose over <a href=\"https:\/\/wncen.com\/2019\/04\/04\/bitcoin-price-rose-more-in-one-hour-than-last-two-months-combined\/\">$1,000 in the matter of an hour<\/a>, breaking through resistance and kickstarting a bullish rally. <a href=\"https:\/\/wncen.com\/2019\/05\/01\/crypto-bitcoin-btc-monthly-candle\/\">Bulls rejoiced over April\u2019s close<\/a>, the third consecutive green monthly close in a row. How Bitcoin closes in May, according to one crypto analyst, will determine if the cryptocurrency is locked in an accumulation phase or if a full-blown bull market is back.<\/p>\n<h2>Red May Close Suggests Bitcoin Accumulation, Green Close Says Bulls Are Back<\/h2>\n<p>While <a href=\"https:\/\/wncen.com\/2019\/05\/01\/crypto-bitcoin-btc-monthly-candle\/\">Bitcoin indeed closed green for the third monthly candle in a row<\/a>, and is in the process of painting a fourth in the green as the price of the leading crypto by market cap continues to climb, all eyes are on the May monthly close.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/05\/01\/crypto-bitcoin-btc-monthly-candle\/\">Crypto Bulls Rejoice As Bitcoin (BTC) Monthly Candle Closes Above Resistance<\/a>\u00a0<\/strong><\/em><\/p>\n<p>Prior to the first of the three green months, starting in February 2019, Bitcoin closed a record-breaking six consecutive monthly candles in red. The brutal beating inflicted by bears was enough to cause such panic in the crypto market, <a href=\"https:\/\/wncen.com\/2019\/05\/03\/is-the-bottom-in-bitcoin-price-btc-has-nearly-doubled-since-bear-market-low\/\">most investors missed buying the bottom<\/a> of Bitcoin price charts, due to fear or greed \u2013 wanting to buy in at lower prices.<\/p>\n<p>If Bitcoin closes the month red, prominent crypto analyst <a href=\"https:\/\/twitter.com\/BobLoukas\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Bob Loukas<\/a> claims that Bitcoin will have entered its accumulation phase following the bear market, and before a bull market resumes. However, if Bitcoin closes May in green, it could signal that a full blown bull market is back in effect, as the trader states that the asset has only closed four consecutive green candles or more during a bull phase.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> working on 4th straight Green Monthly candle.  That only occurs in the heart of a bull market.<\/p>\n<p>3 green candles are locked in.  We&#39;ve never seen that in a bear market.<\/p>\n<p>I bet we close May red, and that would tell me we&#39;re in accumulation phase of the next bull.  <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/t.co\/fW1TAAV2AU\" rel=\"nofollow\">pic.twitter.com\/fW1TAAV2AU<\/a><\/p>\n<p>&mdash; Bob Loukas \ud83d\uddfd (@BobLoukas) <a href=\"https:\/\/twitter.com\/BobLoukas\/status\/31889924?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 6, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Analyst: The Bear Market Is Over, Long Live the Bulls<\/h2>\n<p>The trader also claims that the third consecutive monthly green candle close signals that the bear market is over. Throughout Bitcoin\u2019s history, it has never closed three monthly green candles in a row during a bear trend.<\/p>\n<p>Most crypto analysts look to the 2014-2015 bear market to attempt and glean insights from Bitcoin price history. After the bottom was set on the last bear market, Bitcoin entered a long accumulation phase, as can be seen with the alternating red and green candles.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/05\/03\/bitcoin-price-has-gained-on-average-77-post-consensus-altcoins-161\/\">Bitcoin Price Has Gained On Average 77% Post-Consensus, Altcoins 161%<\/a><\/strong><\/em><\/p>\n<p>It wasn\u2019t until late 2016 when Bitcoin began its bullish ascent once again, taking the price of the crypto asset from $1,000 to $20,000 at its December 2017 peak. A clean break of $6,000 and a monthly close above it would be the best proof yet that bulls are back in control of crypto markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Bitcoin price nears closer to important resistance at $6,000, it\u2019s clear that the leading cryptocurrency by market cap is at an inflection point, and where it goes next could set the tone for the following months to years. An early April rally made the month an easy green close for Bitcoin, as the price of the crypto asset rose over $1,000 in the matter of an hour, breaking through resistance and kickstarting a bullish rally. Bulls rejoiced over April\u2019s close, the third consecutive green monthly close in a row. How Bitcoin closes in May, according to one crypto analyst, will determine if the cryptocurrency is locked in an accumulation phase or if a full-blown bull market is back. Red May Close Suggests Bitcoin Accumulation, Green Close Says Bulls Are Back While Bitcoin indeed closed green for the third monthly candle in a row, and is in the process of painting a fourth in the green as the price of the leading crypto by market cap continues to climb, all eyes are on the May monthly close. Related Reading | Crypto Bulls Rejoice As Bitcoin (BTC) Monthly Candle Closes Above Resistance\u00a0 Prior to the first of the three green months, starting in February 2019, Bitcoin closed a record-breaking six consecutive monthly candles in red. The brutal beating inflicted by bears was enough to cause such panic in the crypto market, most investors missed buying the bottom of Bitcoin price charts, due to fear or greed \u2013 wanting to buy in at lower prices. If Bitcoin closes the month red, prominent crypto analyst Bob Loukas claims that Bitcoin will have entered its accumulation phase following the bear market, and before a bull market resumes. However, if Bitcoin closes May in green, it could signal that a full blown bull market is back in effect, as the trader states that the asset has only closed four consecutive green candles or more during a bull phase. #bitcoin working on 4th straight Green Monthly candle. That only occurs in the heart of a bull market. 3 green candles are locked in. We&#39;ve never seen that in a bear market. I bet we close May red, and that would tell me we&#39;re in accumulation phase of the next bull. $BTC pic.twitter.com\/fW1TAAV2AU &mdash; Bob Loukas \ud83d\uddfd (@BobLoukas) May 6, 2019 Analyst: The Bear Market Is Over, Long Live the Bulls The trader also claims that the third consecutive monthly green candle close signals that the bear market is over. Throughout Bitcoin\u2019s history, it has never closed three monthly green candles in a row during a bear trend. Most crypto analysts look to the 2014-2015 bear market to attempt and glean insights from Bitcoin price history. After the bottom was set on the last bear market, Bitcoin entered a long accumulation phase, as can be seen with the alternating red and green candles. Related Reading | Bitcoin Price Has Gained On Average 77% Post-Consensus, Altcoins 161% It wasn\u2019t until late 2016 when Bitcoin began its bullish ascent once again, taking the price of the crypto asset from $1,000 to $20,000 at its December 2017 peak. A clean break of $6,000 and a monthly close above it would be the best proof yet that bulls are back in control of crypto markets.<\/p>\n","protected":false},"author":517,"featured_media":381219,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,38446,6664,38447],"class_list":["post-381217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-bob-loukas","tag-crypto","tag-monthly-close"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Bitcoin May Monthly Candle Close Confirms Bull Market or Accumulation<\/title>\n<meta name=\"description\" content=\"As Bitcoin price nears closer to important resistance at $6,000, it\u2019s clear that the leading cryptocurrency by market cap is at an inflection point, and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-price-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst: Bitcoin May Monthly Candle Close Confirms Bull Market or Accumulation\" \/>\n<meta property=\"og:description\" content=\"As Bitcoin price nears closer to important resistance at $6,000, it\u2019s clear that the leading cryptocurrency by market cap is at an inflection point, and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-price-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-07T20:00:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:40:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-crypto-hutterstock_1091298524.jpg?fit=5000%2C3338\" \/>\n\t<meta property=\"og:image:width\" content=\"5000\" \/>\n\t<meta property=\"og:image:height\" content=\"3338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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. 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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. 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