Bitcoin and Altcoins Flash Signal That The Crypto Rally Is Coming to A Finish

Tony "The Bull" Severino

5 years ago

3 mins read

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The crypto rally of 2020 is one for the history books already, with Bitcoin and altcoins rallying well over 50% year-to-date, and in some cases, specific crypto assets are up well over 1,000%.

But the outrageous and irrational rally could be coming to an end soon if sell signals flashing across the market trigger a widespread selloff.

Is the 2020 Rally Across Altcoins and The Rest of Crypto Ready to End?

Crypto traders and analysts are regularly scouring through chart after chart, hoping to find some info that tips them off on future price movements.

The tools they use involve detailed technical analysis, which utilizes chart patterns in combination with indicators and oscillators.

One such tool, developed by financial analyst Thomas DeMark, called the TD9 Sequential indicator, has issued sell signals across the wider crypto market.

The TD9 “sell” signal has flipped on the USD pairs of Bitcoin, Ethereum, Litecoin, Cardano, Binance Coin, Chainlink, and Monero.

The indicator signal trips when a series of candlesticks closes in a particular sequence that suggests a trend is weakening, or relief in the other direction may be ahead.

The indicator’s creator is known specifically for his prowess in market timing, and for using the skill to properly predict the October 2011 stock market bottom within one point of its final, exact low.

Predicting the Bitcoin Top and Bottom Using TD9

If you’re questioning the tool’s use and validity in crypto markets, don’t. Thomas DeMark also called Bitcoin’s 2017 bull run top, the December 2018 bottom, and the recent June 2019 top with unmatched accuracy.

DeMark’s tool may be predicting yet another top – the top of the currency crypto rally.

Bitcoin is nearly 50% year-to-date, while altcoins like Ethereum are up well over 100%. Rare outliers like Tezos are up well over 400% in the new year.

At the first sign of a reversal, profits that have been piling up for nearly two months now will be taken, causing a cascade-like selloff and long positions covering.

The fact that the market believed a bull run breakout was upon us, could also cause the selloff to become more severe as fears of a yet another downtrend or deep drop could reach extreme levels.

However, the next dip across the greater crypto market may be the last one before the bull run truly begins. That dip may be beginning now, now that the TD9 Sequential has issued these sell signals across Bitcoin and altcoins like Ethereum and others.

Tony "The Bull" Severino

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’s 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’s 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’s 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.