{"id":420365,"date":"2020-04-09T20:00:58","date_gmt":"2020-04-09T20:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=420365"},"modified":"2024-06-11T13:47:19","modified_gmt":"2024-06-11T13:47:19","slug":"an-indicator-that-called-every-bitcoin-top-with-86-accuracy-big-drop-is-imminent","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/an-indicator-that-called-every-bitcoin-top-with-86-accuracy-big-drop-is-imminent\/","title":{"rendered":"An Indicator That Called Every Bitcoin Top With 86% Accuracy: Big Drop is Imminent"},"content":{"rendered":"

Crypto analysts draw chart patterns, utilize technical analysis indicators, and much more to try and predict future price movements in assets like Bitcoin<\/a> and altcoins.<\/span><\/p>\n

One specific technical analysis indicator that has called every Bitcoin top and bottom throughout the bear market with as much as 86% accuracy, has just signaled that a big drop could be imminent.<\/span><\/p>\n

Started From the Bottom Now We\u2019re Here: Is $7,500 the Top in Bitcoin?<\/span><\/h2>\n

After starting off 2020 with a powerful rally, Bitcoin<\/a> and the rest of the cryptocurrency market experienced a catastrophic collapse as the public learned about the coming impact of the coronavirus on the economy and everyday life.<\/span><\/p>\n

Investors sold off every asset in a panic, fleeing to cash in order to weather the coming storm. The selloff took Bitcoin down to a previously unthinkable $3,800<\/a>.<\/span><\/p>\n

The unexpected move shocked investors, who had witnessed Bitcoin<\/a> price trading above $10,000 just a couple weeks prior.<\/span><\/p>\n

But once that \u201cbottom\u201d was put in the leading cryptocurrency by market cap quickly nearly doubled in value to roughly $7,500 where the current rally is struggling with resistance.<\/span><\/p>\n

The current resistance may be proving to be too strong for the recently demolished asset to break through, and a chillingly accurate indicator backs up the theory that the rally is finished<\/a>.<\/span><\/p>\n

According to the stochastic indicator, among the most popular and commonly used technical analysis indicators, the top is likely to be in.<\/span><\/p>\n

\"bitcoin<\/p>\n

What Exactly is The Stochastic Indicator and Why Does it Matter?<\/span><\/h2>\n

The stochastic indicator is a technical analysis tool developed by Dr. George Lane in the late 1950s, designed to gauge the strength and momentum of a trend.<\/p>\n

Past performance of the stochastic indicator, according to a prominent crypto analyst<\/a>, has resulted in accurate calls as much as 86% of the time for bottoms, and up to 88% accuracy for tops, when it comes to Bitcoin<\/a>.<\/span><\/p>\n

With such little room left for error, the likelihood of the latest rally coming to its conclusion is high.<\/p>\n

Related Reading | This Dead Accurate Indicator Is Signaling Major Crash Across All of Crypto\u00a0<\/a><\/strong><\/em><\/p>\n

In the past, the indicator has also called tops when Bitcoin<\/a><\/span> reached the recent high of $10,500 this past March, when Bitcoin reached $14,000 last June, and when the cryptocurrency reached its all-time high of $20,000 at the height of the bubble in 2017.<\/p>\n

The indicator also called the most recent bottom at $3,800 and the previous bottom at $3,200, suggesting that although a top may be in<\/a>, the bottom may also be behind us.<\/p>\n

Because stochastic measures the strength of trends, any reversal signals provided by the tool don’t also come with potential price targets, so it’s difficult to know for certain if the bottom is indeed in, or if this latest peak was just a dead cat bounce before the real low is set. Given the success rate of the tool, however, analysts may want to also use stochastic to spot when the next short-term bottom is in.<\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Crypto analysts draw chart patterns, utilize technical analysis indicators, and much more to try and predict future price movements in assets like Bitcoin and altcoins. One specific technical analysis indicator that has called every Bitcoin top and bottom throughout the bear market with as much as 86% accuracy, has just signaled that a big drop could be imminent. Started From the Bottom Now We\u2019re Here: Is $7,500 the Top in Bitcoin? After starting off 2020 with a powerful rally, Bitcoin and the rest of the cryptocurrency market experienced a catastrophic collapse as the public learned about the coming impact of the coronavirus on the economy and everyday life. Investors sold off every asset in a panic, fleeing to cash in order to weather the coming storm. The selloff took Bitcoin down to a previously unthinkable $3,800. The unexpected move shocked investors, who had witnessed Bitcoin price trading above $10,000 just a couple weeks prior. But once that \u201cbottom\u201d was put in the leading cryptocurrency by market cap quickly nearly doubled in value to roughly $7,500 where the current rally is struggling with resistance. The current resistance may be proving to be too strong for the recently demolished asset to break through, and a chillingly accurate indicator backs up the theory that the rally is finished. According to the stochastic indicator, among the most popular and commonly used technical analysis indicators, the top is likely to be in. What Exactly is The Stochastic Indicator and Why Does it Matter? The stochastic indicator is a technical analysis tool developed by Dr. George Lane in the late 1950s, designed to gauge the strength and momentum of a trend. Past performance of the stochastic indicator, according to a prominent crypto analyst, has resulted in accurate calls as much as 86% of the time for bottoms, and up to 88% accuracy for tops, when it comes to Bitcoin. With such little room left for error, the likelihood of the latest rally coming to its conclusion is high. Related Reading | This Dead Accurate Indicator Is Signaling Major Crash Across All of Crypto\u00a0 In the past, the indicator has also called tops when Bitcoin reached the recent high of $10,500 this past March, when Bitcoin reached $14,000 last June, and when the cryptocurrency reached its all-time high of $20,000 at the height of the bubble in 2017. The indicator also called the most recent bottom at $3,800 and the previous bottom at $3,200, suggesting that although a top may be in, the bottom may also be behind us. Because stochastic measures the strength of trends, any reversal signals provided by the tool don’t also come with potential price targets, so it’s difficult to know for certain if the bottom is indeed in, or if this latest peak was just a dead cat bounce before the real low is set. Given the success rate of the tool, however, analysts may want to also use stochastic to spot when the next short-term bottom is in. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":420369,"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":[428,1144,6664,75821,4078],"class_list":["post-420365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-stochastic","tag-technical-analysis"],"acf":[],"yoast_head":"\nAn Indicator That Called Every Bitcoin Top With 86% Accuracy: Big Drop is Imminent<\/title>\n<meta name=\"description\" content=\"Crypto analysts draw chart patterns, utilize technical analysis indicators, and much more to try and predict future price movements in assets like Bitcoin\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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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