Chartered Market Technician Claims Crypto Poised For Strong Uptrend

Tony "The Bull" Severino

5 years ago

2 mins read

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The Bitcoin halving has now passed, and crypto investors everywhere are gearing up for the next bull market.

According to a chartered market technician, a new uptrend forming isn’t just speculation and hype. The analyst claims while it may not happen “overnight” another leg up and a “strong uptrend period” will soon occur in Bitcoin.

When Will the Next Crypto Bull Market Begin?

Bitcoin has been in a secular bull market for most of its existence. After the asset broke out from its first extended downtrend, it climbed to $20,000.

Along the way, it ignited a strong interest in other crypto assets called altcoins. These altcoins, like Ethereum, Ripple, Litecoin, and many others, exploded in value and reached irrational prices due to retail FOMO.

The bubble popped, Bitcoin and altcoins collapsed, and the downtrend cycle repeated.

Bitcoin continues to contend with critical resistance above $10,000 and it is keeping the overall crypto market at bay.

However, according to a chartered market technician with over 15 years of experience in classical technical analysis the rally crypto investors are waiting for will soon be here.

A very strong trend period is approaching on #BTCUSD This is a monthly scale price chart so don't expect miracles overnight, but the long-term trend remains up and can have another leg up. #cryptocurrency #Bitcoin pic.twitter.com/lJTneyCa15

— Aksel Kibar, CMT (@TechCharts) May 15, 2020

Chartered Market Technician Expects Strong Uptrend in Bitcoin Soon

Aksel Kibar, CMT, ex portfolio manager and operator of Tech Charts claims that Bitcoin is ready for a “very strong uptrend period.” This is due to the long-term trend remaining “up,” presenting the possibility of “another leg up.”

Analysts across the crypto space are a dime a dozen, but Kibar isn’t your normal cryptocurrency analyst hiding behind a duck or dog avatar.

Kibar’s charts are near flawless, with very few indicators used or lines drawn. The analyst focuses only on classical charting techniques and is endorsed by the likes of Peter Brandt – a world-renowned career trader with over 30 years of trading commodities.

The ex portfolio manager rarely charts crypto, but the Bitcoin halving may have caught the analyst’s attention.

The chart shared is of Bitcoin on monthly timeframes, so the analyst warns not to expect “miracles overnight.” But even Kibar can’t deny how bullish Bitcoin price charts are given the asset’s history of success.

Bitcoin‘s halving has long been expected to bet he catalyst that kicks off the next bull market as it has done in the past. Upside targets from global macro economists point to valuations of over $1 million per BTC in the future.

Whether this happens in the next crypto uptrend and leg up that Kibar points to is unknown, but this extended period of bullish price action should be here soon.

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.