{"id":432305,"date":"2020-07-27T17:00:38","date_gmt":"2020-07-27T17:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=432305"},"modified":"2020-07-27T15:03:55","modified_gmt":"2020-07-27T15:03:55","slug":"two-bears-one-indicator-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/two-bears-one-indicator-bitcoin\/","title":{"rendered":"Two Bearish Signals, One Indicator: Bulls Beware of Bitcoin Push Beyond $10,000"},"content":{"rendered":"

After trading sideways for several months<\/a>, Bitcoin may be ready to not only break out of the trading range but also break out from its multi-year triangle pattern.<\/p>\n

However, bulls must beware of the latest push beyond $10,000 triggering not one, but two sell setups on the same indicator on BTCUSD daily price charts.<\/p>\n

Bitcoin Possibly Preparing Breakout From Bear Market Into New Uptrend<\/h2>\n

The hype surrounding Bitcoin’s halving took the asset to above $9,000 in late April just weeks after Black Thursday cut the crypto asset down to $3,800. Profit-taking from an over 100% rally combined with buying ahead of what most investors believe to be the next bull market, led to an equilibrium in price action.<\/p>\n

The sideways trend lasted over 90 days, but as of this week, ahead of expected stimulus packages from the US<\/a>, BTCUSD has potentially begun a breakout.<\/p>\n

\"bitcoin<\/p>\n

BTCUSD Daily Triangle Breakout | Source: TradingView<\/a><\/pre>\n
The leading cryptocurrency by market cap rose against the dollar starting early last week, surging over $1,000 to over $10,300 where it is currently trading.<\/p>\n
Related Reading | How Will Bitcoin Respond To Its Biggest Listing Yet? The United States<\/a><\/strong><\/em><\/p>\n
The rally has broken above top trend line resistance stemming down from the asset’s all-time high, forming a massive, multi-year triangle. If BTCUSD can hold above the key trend line and close, it may be a sign that the new uptrend has officially begun.<\/p>\n
But before bullish crypto investors break out the champagne glasses in celebration of the end of the bear market, not one, but two bearish signals have appeared on a very accurate indicator.<\/p>\n
Combo-Breaker: Two Bearish Sell Signals Could Stop Cryptocurrency’s Advance<\/h2>\n
Reading through most cryptocurrency community threads, there’s a lot of back-patting and showboating by bulls. These crypto investors are already claiming victory over bears with Bitcoin trading back above $10,000 once again.<\/p>\n
Although the cryptocurrency has been rejected at this level numerous times<\/a>, the consensus is that this time is different.<\/p>\n
Related Reading | What Happens Next? Bitcoin Range Falls To Tightest Point In History<\/a><\/strong><\/em><\/p>\n
Stimulus money is pumping gold and other assets, and altcoins are rallying around every corner. It shouldn’t be too surprising the most scarce asset in the world is growing against the dollar as the fiat currency floods the market.<\/p>\n
But before bulls get ahead of themselves, this latest push above $10,000 has triggered two dangerous signals<\/a>.<\/p>\n
The TD Sequential indication has been used to call numerous tops and bottoms in Bitcoin on multiple timeframes. The asset triggered a sell at its all-time high, and again at the February 2020 top before Black Thursday.<\/p>\n
\"bitcoin<\/p>\n
BTCUSD Daily TD Sequential 9 & 13 Sell Setup | Source: TradingView<\/a> [Via: Moe_Mentum Twitter<\/a>]<\/pre>\n
It is now back once again, signaling not only a 9 setup but a 13 combo setup on the indicator. Both a 9 or 13-count on their own constitute a sell setup on the indicator, created by market timing expert Thomas Demark.<\/p>\n
The indicator isn’t flawless, and the current uptrend and conditions could prove too much for bears to gain any sort of advantage. However, given the indicator’s accuracy in the past, it would be wise for bulls to watch for the daily close today to see how the signal unfolds.<\/p>\n","protected":false},"excerpt":{"rendered":"
After trading sideways for several months, Bitcoin may be ready to not only break out of the trading range but also break out from its multi-year triangle pattern. However, bulls must beware of the latest push beyond $10,000 triggering not one, but two sell setups on the same indicator on BTCUSD daily price charts. Bitcoin Possibly Preparing Breakout From Bear Market Into New Uptrend The hype surrounding Bitcoin’s halving took the asset to above $9,000 in late April just weeks after Black Thursday cut the crypto asset down to $3,800. Profit-taking from an over 100% rally combined with buying ahead of what most investors believe to be the next bull market, led to an equilibrium in price action. The sideways trend lasted over 90 days, but as of this week, ahead of expected stimulus packages from the US, BTCUSD has potentially begun a breakout. BTCUSD Daily Triangle Breakout | Source: TradingView The leading cryptocurrency by market cap rose against the dollar starting early last week, surging over $1,000 to over $10,300 where it is currently trading. Related Reading | How Will Bitcoin Respond To Its Biggest Listing Yet? The United States The rally has broken above top trend line resistance stemming down from the asset’s all-time high, forming a massive, multi-year triangle. If BTCUSD can hold above the key trend line and close, it may be a sign that the new uptrend has officially begun. But before bullish crypto investors break out the champagne glasses in celebration of the end of the bear market, not one, but two bearish signals have appeared on a very accurate indicator. Combo-Breaker: Two Bearish Sell Signals Could Stop Cryptocurrency’s Advance Reading through most cryptocurrency community threads, there’s a lot of back-patting and showboating by bulls. These crypto investors are already claiming victory over bears with Bitcoin trading back above $10,000 once again. Although the cryptocurrency has been rejected at this level numerous times, the consensus is that this time is different. Related Reading | What Happens Next? Bitcoin Range Falls To Tightest Point In History Stimulus money is pumping gold and other assets, and altcoins are rallying around every corner. It shouldn’t be too surprising the most scarce asset in the world is growing against the dollar as the fiat currency floods the market. But before bulls get ahead of themselves, this latest push above $10,000 has triggered two dangerous signals. The TD Sequential indication has been used to call numerous tops and bottoms in Bitcoin on multiple timeframes. The asset triggered a sell at its all-time high, and again at the February 2020 top before Black Thursday. BTCUSD Daily TD Sequential 9 & 13 Sell Setup | Source: TradingView [Via: Moe_Mentum Twitter] It is now back once again, signaling not only a 9 setup but a 13 combo setup on the indicator. Both a 9 or 13-count on their own constitute a sell setup on the indicator, created by market timing expert Thomas Demark. The indicator isn’t flawless, and the current uptrend and conditions could prove too much for bears to gain any sort of advantage. However, given the indicator’s accuracy in the past, it would be wise for bulls to watch for the daily close today to see how the signal unfolds.<\/p>\n","protected":false},"author":517,"featured_media":432345,"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":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-432305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nTwo Bearish Signals, One Indicator: Bulls Beware of Bitcoin Push Beyond $10,000<\/title>\n<meta name=\"description\" content=\"After trading sideways for several months, Bitcoin may be ready to not only break out of the trading range but also 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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. 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:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Two Bearish Signals, One Indicator: Bulls Beware of Bitcoin Push Beyond $10,000","url":"http:\/\/wncen.com\/news\/two-bears-one-indicator-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/two-bears-one-indicator-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/bitcoin-btcusd-bearish-Depositphotos_9628875_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/bitcoin-btcusd-bearish-Depositphotos_9628875_xl-2015-scaled.jpg?fit=2560%2C1765"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2020-07-27T17:00:38Z","datePublished":"2020-07-27T17:00:38Z","dateModified":"2020-07-27T17:00:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Two Bearish Signals, One Indicator: Bulls Beware of Bitcoin Push Beyond $10,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/two-bears-one-indicator-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/two-bears-one-indicator-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/bitcoin-btcusd-bearish-Depositphotos_9628875_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/bitcoin-btcusd-bearish-Depositphotos_9628875_xl-2015-scaled.jpg?fit=2560%2C1765\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-07-27T17:00:38Z\",\"datePublished\":\"2020-07-27T17:00:38Z\",\"dateModified\":\"2020-07-27T17:00:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/bitcoin-btcusd-bearish-Depositphotos_9628875_xl-2015-scaled.jpg?fit=2560%2C1765","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/432305"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=432305"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/432305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/432345"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=432305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=432305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=432305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}