Chillingly Accurate Indicator Says Crypto Market Will Soon Target New Highs

Tony "The Bull" Severino

Last Updated: April 16, 2020 5:30 pm

3 mins read

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The crypto market is like the wild west, with extreme price volatility across all major assets in the space due to the speculative nature of the asset class combined with the low liquidity environment. But it’s still ruled by normal market dynamics, and responds well to certain technical analysis indicators, chart patterns, and more.

One particular indicator that’s repeatedly shown chilling accuracy across all major assets, especially Bitcoin, is now signaling that one final pump may be in the cards before a sell signal triggers, representing a top and end to the current rally.

Bitcoin 3D Chart Readies TD 9 Sell Signal, But Higher High Needed For Perfected Setup

The TD Sequential indicator has been a popular topic on NewsBTC lately, with many assets triggering the signal, and then markets responding as the tool predicted.

The tool recently called Bitcoin’s recent local high, absolutely nailed the top at $10,500 back in February and has made many other epic calls in the past.

The TD Sequential indicator called the all-time high peak perfectly, then again at Bitcoin’s current bear market $3,200 bottom. It’s not perfect, however, and recently signaled XRP was a buy on monthly timeframes, and the asset continues to suffer.

But given the repeated accuracy and how it functions, it suggests that a higher high in the Bitcoin price charts is possible, perfecting the TD 9 sell setup.

The indicator works by numbering candles in a sequence. The sequence resets if a new high or low is set ahead of the setup perfecting at 9 or 13. A 9 setup is perfected only when the 8 or 9 candle is higher than the 7. The best setups come from when 9 is higher than the 8 candle also.

The 3-day Bitcoin price chart has just reached a 9, but the setup has yet to perfect. If Bitcoin reaches a higher high within the next 36 hours, the setup will be perfected and a reversal likely.

Real Crypto Rally Or Is This Just a Dead Cat Bounce Before Low Is Set

Following the record-breaking crypto market collapse last month due to the coronavirus outbreak impacting the economy and ushering in the first recession since 2008, Bitcoin and altcoins have made a strong recovery. But could the rally have legs, or is this just another dead cat bounce before a new low is put in.

If Bitcoin and the rest of the crypto market reverses here, setting a lower high, the crypto asset class is at risk of setting not only a lower low on higher time frames but setting a deeper, final, bear market bottom.

Bitcoin’s halving is next month, and while the event has long been thought to be bullish, the black swan event that is the coronavirus has markets spiraling out of control in fear.

Given the accuracy of the sell signal, the economy only getting worse, chances of Bitcoin diving deeper is high. However, the devaluation of the dollar combined with the asset’s digital scarcity could save the crypto asset and cause its value to rise in the months ahead.

Featured image from Pixabay

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.