2022: The Year The Secular Bitcoin Bull Run Could End
03 Enero 2022 - 11:12AM
NEWSBTC
When the December 31, 2021 candle came to a close in Bitcoin, it
didn’t just begin a new calendar year – it triggered a sell setup
of epic proportions. Here is why the secular bull run in
cryptocurrency could come to an end this year, and the first true
bear market emerge. Bitcoin Yearly Chart Triggers First Ever Sell
Setup You wouldn’t know it based on the recently bearish price
action, but Bitcoin has been in an ongoing bull market since the
second the genesis block was generated exactly thirteen years ago
today. In the span of a normal childhood growing into a teenager,
the price per coin has ballooned and bubbled its way from zero to
$68,000 per BTC. Related Reading | Point & Figure: The Chart
That Makes Bitcoin Support Cut And Dry The trajectory hasn’t always
been up, as the price chart has shown, but the asset has been
outrageously bullish nonetheless. Many indicators back up this
theory, having never crossed into bear territory ever once since
price was recorded. For example, the monthly MACD hasn’t made it
below the zero line since 2015 despite the 2018-2019 “bear market.”
The monthly Directional Movement Index had only a month-long
temporary bear cross around mid-2015, but aside from that has never
been bearish for an extended phase. However, the sequence of ups
and downs experienced over the years, like any thirteen-year-old
would experience, has resulted in a specific sell setup according
to the TD Sequential. The tool is a market timing indicator
developed by Thomas DeMark – which on other timeframes has been
useful in calling reversals. The signal that makes you want to
scream "nine!" | Source: BTCUSD on TradingView.com At thirteen
years since the asset’s debut, the first ever TD9 sell setup has
appeared on the BTCUSD yearly price chart. On the TradingView
BTCUSD Index, price action began in 2010. Bear market years of
2014-2015 and 2018-2019 excluded, there have been exactly 9 candles
with a higher open than the previous candles – triggering the sell
setup. Theorizing The End Of The Secular Bull Run Despite the
ominous signal, all is not lost for the current bull cycle –
although it does give more credence to another bull market-ending
pattern that could be developing. According to Elliott Wave Theory,
markets grow in five waves. These five impulse waves are broken
down into similarly-behaving sub-waves that alternate between
uptrend and corrective phases. In the larger cycle, these
corrective phases are what we call bear markets. In smaller
timeframes, corrections often feel just as severe as the current
sentiment would confirm. The good news and the bad news in one
chart | Source: BTCUSD on TradingView.com Bitcoin appears to be
well into its fifth impulse wave in the major motive wave cycle.
The current count would suggest that the cryptocurrency is also
within wave four of five sub-waves, hinting that the grand finale
should unfold the in the year ahead. Related Reading | Bitcoin
Falls Flat: Examining A Rare Bull Market Corrective Pattern If
Bitcoin price does make it to $100,000 or higher, given the TD9
sell setup on the yearly, and the potential wave structure, this
might be a sell signal worth taking. But when? Follow
@TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram
for exclusive daily market insights and technical analysis
education. Please note: Content is educational and should not
be considered investment advice. Featured image from
iStockPhoto, Charts from TradingView.com
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