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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Warning: “Watch Out” For Bitcoin “Bulldozer” When Volume Expands

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
bitcoim btcusd bulldozer

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Volatility is finally increasing after a return to historical lows, but volume has yet to follow. When it does, however, one crypto trader says to “watch out” for the “bulldozer” that will be Bitcoin after a breakout supported by volume expansion.

Here’s a look at the last time volume contracted this much, and what to potentially expect across the coming crypto market price action when volume finally arrives.

Trader Joel Olszewicz Warns Bitcoin Bulldozer Is Coming

The cryptocurrency market is known for its extreme price volatility that makes holding a wild rollercoaster ride. One price gets going, it can act like a runaway freight train, or as crypto trader Joel Olszewicz says a “bulldozer” when supported by volume.

Related Reading | Analyst: The Next Bitcoin Break Will Set The Stage For Weeks To Come

Bitcoin is currently experiencing its second-largest volume contraction of the year, with the previous one resulting in an over 30% rise from $9,000 to over $12,000 at the local 2020 high.

bitcoin bull dozer

Warning: Bitcoin Bulldozer Coming After Volume Breakout And Expansion | Source: BTCUSD on TradingView.com

From that move, Bitcoin has since retraced slightly and is gearing up for its next major, decision-making move. Whichever direction the cryptocurrency heads next, should set the trend for the rest of the year and into 2021.

Under Construction: Have Bulls Built A Foundation For Run To Begin?

The fact that volume isn’t following the latest breakout above $11,000 is slightly alarming for bulls that could be being baited into a trap.

In this scenario, Bitcoin falls instead, and the “bulldozer” effect will give $10,000 another, more powerful retest that bulls will need to hold.

Bulls are warned to potentially get out of the way and “watch out,” but the same is true if the top cryptocurrency continues higher.

Related Reading | Crypto Calculated: How Ancient Math Predicts Bitcoin’s Next Top At $270K

Another breakout with volume to support the price increase could push Bitcoin through $12,000 and not stop until it sets a higher high above last year’s peak at $13,800.

The higher high would be a significant buy signal and confirmation of a new uptrend, following the higher low set on Black Thursday. If that’s the case, the bull run could blossom from the dirt left behind from the bulldozer’s destructive path.

Featured image from Deposit Photos, Charts from TradingView
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Tony "The Bull" Severino
Tony "The Bull" Severino

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.

Read more

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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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