{"id":377086,"date":"2019-04-04T20:00:01","date_gmt":"2019-04-04T20:00:01","guid":{"rendered":"https:\/\/wncen.com\/?p=377086"},"modified":"2024-06-11T07:38:48","modified_gmt":"2024-06-11T07:38:48","slug":"analyst-bitcoin-price-drop-incoming","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-bitcoin-price-drop-incoming\/","title":{"rendered":"Bitcoin Price Plunge Incoming If Bulls Don\u2019t Follow Through With Volume"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">This week, <a href=\"https:\/\/wncen.com\/2019\/04\/02\/bitcoin-briefly-over-5000-where-to-experts-see-it-going-in-near-term\/\">Bitcoin price rallied<\/a> from the previous 2019 high of $4,200 to the first higher high of the bear market at over $5,000. While there is much speculation across the crypto community as to what sparked the massive rally, most conclude that the powerful upward movement was the result of one major player buying over 20,000 in BTC across three different exchanges.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Because the market was moved by one large whale, one analyst warns that if buyers don\u2019t step in and follow through with substantial volume, Bitcoin price is at risk for a significant drop.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Recent Bitcoin Price Rally In Danger Of Drop If Buyers Don\u2019t Capitalize <\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">The entire crypto community is in an uproar over the latest Bitcoin rally, as it is the first higher high set since Bitcoin last touched its all-time high price of $20,000 per BTC back in December 2017. Since then, the leading crypto asset has ping-ponged between support and resistance, diminishing the asset\u2019s value down to a 2018 low of $3,150.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/04\/02\/crypto-community-bitcoin-price-rally\/\">Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">That low, is increasingly looking to be the elusive <a href=\"https:\/\/wncen.com\/2019\/04\/03\/analyst-the-crypto-winter-has-ended-as-bitcoin-btc-skyrockets-towards-5000\/\">Bitcoin bear market bottom<\/a>, which can only can be concluded in hindsight. But this recent rally has taken Bitcoin well out of the previous trading range between $4,200 and $3,200, topping out at around $5,150.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Because the <a href=\"https:\/\/wncen.com\/2019\/04\/02\/bulls-are-back-in-town-experts-weigh-in-on-bitcoin-price-rise\/\">crypto consensus at large<\/a> is convinced that the entire movement was the result of one whale buying a large amount of BTC, one <a href=\"https:\/\/twitter.com\/Josh_Rager\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">exceedingly bearish analyst<\/a> (short-term) who has been calling for Bitcoin to set new lows, warns that a drop is incoming if buyers don\u2019t follow through with volume.<\/span><\/p>\n<p>https:\/\/twitter.com\/josh_rager\/status\/09385472?s=12<\/p>\n<p class=\"p1\"><span class=\"s1\">Volume in markets is typically an indicator that confirms the strength of a trend. If a massive candle appears with low volume, chances are, the move is a fake out designed to hit stops and trap traders in bad positions. However, it a move up or down is accompanied by substantial trading volume, the direction is typically confirmed to be a legitimate market movement.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/04\/03\/banks-funds-brokers-crypto-bitcoin\/\">From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Take the drop from $6,000 into the $3,000 range that occurred back in November 2018 for example, when the bear market really ramped up in severity. The panic-induced plummet through $6,000 and continued bearish trend was confirmed by a significant increase in sell volume following the drop.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The inverse will need to happen following this most recent rally for buyers to confirm there is bullish momentum to support a trend change, and resume a cryptocurrency bull market. During the move, Bitcoin volumes on Coinbase topped over 40,000 BTC, so the <a href=\"https:\/\/wncen.com\/2019\/04\/02\/bitcoin-buy-volume-reaches-record-high-on-binance\/\">trend is already off to a good start<\/a>. However, it\u2019ll need to <a href=\"https:\/\/wncen.com\/2019\/04\/02\/crypto-trading-volume-nears-peak-levels-have-the-bulls-returned\/\">continue to remain strong<\/a> while Bitcoin price consolidates above around the recent higher high, before the market can continue upward with confidence.<\/span><\/p>\n<p>Featured Image by Shutterstock<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, Bitcoin price rallied from the previous 2019 high of $4,200 to the first higher high of the bear market at over $5,000. While there is much speculation across the crypto community as to what sparked the massive rally, most conclude that the powerful upward movement was the result of one major player buying over 20,000 in BTC across three different exchanges. Because the market was moved by one large whale, one analyst warns that if buyers don\u2019t step in and follow through with substantial volume, Bitcoin price is at risk for a significant drop. Recent Bitcoin Price Rally In Danger Of Drop If Buyers Don\u2019t Capitalize The entire crypto community is in an uproar over the latest Bitcoin rally, as it is the first higher high set since Bitcoin last touched its all-time high price of $20,000 per BTC back in December 2017. Since then, the leading crypto asset has ping-ponged between support and resistance, diminishing the asset\u2019s value down to a 2018 low of $3,150. Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally That low, is increasingly looking to be the elusive Bitcoin bear market bottom, which can only can be concluded in hindsight. But this recent rally has taken Bitcoin well out of the previous trading range between $4,200 and $3,200, topping out at around $5,150. Because the crypto consensus at large is convinced that the entire movement was the result of one whale buying a large amount of BTC, one exceedingly bearish analyst (short-term) who has been calling for Bitcoin to set new lows, warns that a drop is incoming if buyers don\u2019t follow through with volume. https:\/\/twitter.com\/josh_rager\/status\/09385472?s=12 Volume in markets is typically an indicator that confirms the strength of a trend. If a massive candle appears with low volume, chances are, the move is a fake out designed to hit stops and trap traders in bad positions. However, it a move up or down is accompanied by substantial trading volume, the direction is typically confirmed to be a legitimate market movement. Related Reading | From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today Take the drop from $6,000 into the $3,000 range that occurred back in November 2018 for example, when the bear market really ramped up in severity. The panic-induced plummet through $6,000 and continued bearish trend was confirmed by a significant increase in sell volume following the drop. The inverse will need to happen following this most recent rally for buyers to confirm there is bullish momentum to support a trend change, and resume a cryptocurrency bull market. During the move, Bitcoin volumes on Coinbase topped over 40,000 BTC, so the trend is already off to a good start. However, it\u2019ll need to continue to remain strong while Bitcoin price consolidates above around the recent higher high, before the market can continue upward with confidence. Featured Image by Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":377088,"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":[428,679,26263,25050,4407],"class_list":["post-377086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto-analyst","tag-josh-rager","tag-volume"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Plunge Incoming If Bulls Don\u2019t Follow Through With Volume<\/title>\n<meta name=\"description\" content=\"One analyst warns that if buyers don\u2019t step in and follow through with substantial volume, Bitcoin price is at risk for a significant drop.\" \/>\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\/analyst-bitcoin-price-drop-incoming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Plunge Incoming If Bulls Don\u2019t Follow Through With Volume\" \/>\n<meta property=\"og:description\" content=\"One analyst warns that if buyers don\u2019t step in and follow through with substantial volume, Bitcoin price is at risk for a significant drop.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/analyst-bitcoin-price-drop-incoming\/\" \/>\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=\"2019-04-04T20:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:38:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/bitcoin-price-drop-btc-shutterstock_661041178.jpg?resize=860,573\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; 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\"The Bull\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"The Bull\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. 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":"Bitcoin Price Plunge Incoming If Bulls Don\u2019t Follow Through With Volume","url":"http:\/\/wncen.com\/news\/analyst-bitcoin-price-drop-incoming\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/analyst-bitcoin-price-drop-incoming\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/bitcoin-price-drop-btc-shutterstock_661041178.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/bitcoin-price-drop-btc-shutterstock_661041178.jpg?fit=5855%2C3903"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","crypto analyst","josh rager","volume"],"dateCreated":"2019-04-04T20:00:01Z","datePublished":"2019-04-04T20:00:01Z","dateModified":"2024-06-11T07:38:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Plunge Incoming If Bulls Don\\u2019t Follow Through With Volume\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/analyst-bitcoin-price-drop-incoming\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/analyst-bitcoin-price-drop-incoming\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/bitcoin-price-drop-btc-shutterstock_661041178.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/bitcoin-price-drop-btc-shutterstock_661041178.jpg?fit=5855%2C3903\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"crypto analyst\",\"josh rager\",\"volume\"],\"dateCreated\":\"2019-04-04T20:00:01Z\",\"datePublished\":\"2019-04-04T20:00:01Z\",\"dateModified\":\"2024-06-11T07:38:48Z\"}<\/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\/04\/bitcoin-price-drop-btc-shutterstock_661041178.jpg?fit=5855%2C3903","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/377086","targetHints":{"allow":["GET"]}}],"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=377086"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/377086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/377088"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=377086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=377086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=377086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}