{"id":569706,"date":"2024-01-17T19:05:48","date_gmt":"2024-01-17T19:05:48","guid":{"rendered":"https:\/\/wncen.com\/?p=569706"},"modified":"2024-06-11T11:11:29","modified_gmt":"2024-06-11T11:11:29","slug":"parabolic-bitcoin-indicator-bull-run-despite-15-crash","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/parabolic-bitcoin-indicator-bull-run-despite-15-crash\/","title":{"rendered":"Parabolic Bitcoin Indicator Points To Continued Bull Run Despite 15% Crash"},"content":{"rendered":"

Recently, Bitcoin experienced a significant drop<\/a>, crashing 15% from its 2024 highs around $49,000. This decline followed closely on the heels of the approval of 11 spot Bitcoin Exchange-Traded Funds (ETFs), a move that was initially met with optimism in the crypto community. The sudden downturn has left investors and traders analyzing the charts for clues about Bitcoin’s next move.<\/p>\n

Is The Bullish Bitcoin Trend Over?<\/h2>\n

In the wake of this decline, technical analysis offers a beacon of insight. Notably, the correction was marked by a bearish engulfing candle on the daily chart, signaling a potential reversal in Bitcoin’s upward trend.<\/p>\n

Accompanying this was a nasty wick \u2013 a long upper shadow on the candlestick chart, indicating a significant sell-off after prices peaked.<\/p>\n

Further complicating the landscape was the opening of the CME BTC Futures with a sizeable gap down. Such gaps are often viewed as potential resistance levels, reinforcing the bearish sentiment.<\/p>\n

\"BTC1!_2024-01-17_12-55-31\"<\/p>\n

The Parabolic SAR remains below price action | BTCUSD on TradingView.com<\/a><\/pre>\n
Stop And Reverse: A Ray Of Hope<\/h2>\n
However, amidst these seemingly negative signals, a ray of hope shines through from a “parabolic” technical indicator \u2013 the Parabolic SAR<\/a> (Stop and Reverse).<\/p>\n
Despite the tumultuous market conditions, the weekly BTCUSD Parabolic SAR indicator remains untagged, suggesting that the long-term uptrend is still intact.<\/p>\n
This indicator, known for its effectiveness in identifying potential reversals in the market\u2019s direction, paints a different picture from the immediate bearish signals and sentiment.<\/p>\n
What Is The Parabolic SAR?<\/h2>\n
To fully grasp the significance of the Parabolic SAR<\/a> in this context, it’s essential to understand what it is and how it functions. The Parabolic SAR is a popular technical analysis tool used primarily to determine the direction of an asset’s momentum and to provide entry and exit points.<\/p>\n
The ‘SAR’ in Parabolic SAR stands for ‘Stop and Reverse.’ This indicator is represented on charts as a series of dots placed either above or below the price bars. A dot placed below the price is viewed as a bullish signal, while a dot above is bearish.<\/p>\n
Related Reading: Bitcoin News Catalyst: Could ETF Hype Cause BTC Price To Double?<\/a><\/div>\n
The unique aspect of the Parabolic SAR<\/a> is its ability to act as a trailing stop loss. As the price of an asset moves, the Parabolic SAR adjusts, moving closer to the price line. This adjustment provides a dynamic method for traders to manage their positions, securing profits while limiting potential losses.<\/p>\n
In the context of Bitcoin’s current situation, the Parabolic SAR’s position \u2013 still below the price bars on the weekly chart \u2013 suggests that the long-term bullish trend is not yet disrupted.<\/p>\n
Tony is the author of the CoinChartist (VIP) newsletter<\/a>. Sign up for free<\/a>. Follow @TonyTheBullBTC<\/a> & @coinchartist_io<\/a> on Twitter. Or join\u00a0the TonyTradesBTC Telegram<\/a> for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Recently, Bitcoin experienced a significant drop, crashing 15% from its 2024 highs around $49,000. This decline followed closely on the heels of the approval of 11 spot Bitcoin Exchange-Traded Funds (ETFs), a move that was initially met with optimism in the crypto community. The sudden downturn has left investors and traders analyzing the charts for clues about Bitcoin’s next move. Is The Bullish Bitcoin Trend Over? In the wake of this decline, technical analysis offers a beacon of insight. Notably, the correction was marked by a bearish engulfing candle on the daily chart, signaling a potential reversal in Bitcoin’s upward trend. Accompanying this was a nasty wick \u2013 a long upper shadow on the candlestick chart, indicating a significant sell-off after prices peaked. Further complicating the landscape was the opening of the CME BTC Futures with a sizeable gap down. Such gaps are often viewed as potential resistance levels, reinforcing the bearish sentiment. The Parabolic SAR remains below price action | BTCUSD on TradingView.com Stop And Reverse: A Ray Of Hope However, amidst these seemingly negative signals, a ray of hope shines through from a “parabolic” technical indicator \u2013 the Parabolic SAR (Stop and Reverse). Despite the tumultuous market conditions, the weekly BTCUSD Parabolic SAR indicator remains untagged, suggesting that the long-term uptrend is still intact. This indicator, known for its effectiveness in identifying potential reversals in the market\u2019s direction, paints a different picture from the immediate bearish signals and sentiment. What Is The Parabolic SAR? To fully grasp the significance of the Parabolic SAR in this context, it’s essential to understand what it is and how it functions. The Parabolic SAR is a popular technical analysis tool used primarily to determine the direction of an asset’s momentum and to provide entry and exit points. The ‘SAR’ in Parabolic SAR stands for ‘Stop and Reverse.’ This indicator is represented on charts as a series of dots placed either above or below the price bars. A dot placed below the price is viewed as a bullish signal, while a dot above is bearish. Related Reading: Bitcoin News Catalyst: Could ETF Hype Cause BTC Price To Double? The unique aspect of the Parabolic SAR is its ability to act as a trailing stop loss. As the price of an asset moves, the Parabolic SAR adjusts, moving closer to the price line. This adjustment provides a dynamic method for traders to manage their positions, securing profits while limiting potential losses. In the context of Bitcoin’s current situation, the Parabolic SAR’s position \u2013 still below the price bars on the weekly chart \u2013 suggests that the long-term bullish trend is not yet disrupted. Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join\u00a0the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":382986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,56802,4524,76835],"class_list":["post-569706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-parabolic-sar","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nParabolic Bitcoin Indicator Points To Continued Bull Run Despite 15% Crash<\/title>\n<meta name=\"description\" content=\"Recently, Bitcoin experienced a significant drop, crashing 15% from its 2024 highs around $49,000. 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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":"Parabolic Bitcoin Indicator Points To Continued Bull Run Despite 15% Crash","url":"http:\/\/wncen.com\/news\/parabolic-bitcoin-indicator-bull-run-despite-15-crash\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/parabolic-bitcoin-indicator-bull-run-despite-15-crash\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-parabolic-crypto-shutterstock_1262008330-e29.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-parabolic-crypto-shutterstock_1262008330-e29.jpg?fit=3000%2C2001"},"articleSection":"Cryptocurrency Market News","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","parabolic sar","xbt","xbtusd"],"dateCreated":"2024-01-17T19:05:48Z","datePublished":"2024-01-17T19:05:48Z","dateModified":"2024-06-11T11:11:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Parabolic Bitcoin Indicator Points To Continued Bull Run Despite 15% Crash\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/parabolic-bitcoin-indicator-bull-run-despite-15-crash\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/parabolic-bitcoin-indicator-bull-run-despite-15-crash\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/bitcoin-price-parabolic-crypto-shutterstock_1262008330-e29.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/bitcoin-price-parabolic-crypto-shutterstock_1262008330-e29.jpg?fit=3000%2C2001\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"parabolic sar\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2024-01-17T19:05:48Z\",\"datePublished\":\"2024-01-17T19:05:48Z\",\"dateModified\":\"2024-06-11T11:11:29Z\"}<\/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\/2019\/05\/bitcoin-price-parabolic-crypto-shutterstock_1262008330-e29.jpg?fit=3000%2C2001","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569706"}],"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=569706"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/382986"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=569706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=569706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=569706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}