Analyst: Friday the 13th Daily Close Could Set Future Bitcoin Price Trend

Tony "The Bull" Severino

5 years ago

3 mins read

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Each and every daily close on Bitcoin price charts is important, as the price level where the candle closes and even the shape of the candle can help crypto analysts predict future movements and trend changes.

Today’s daily close one crypto analyst says is exceptionally important, and will likely choose the trend direction in the short term for Bitcoin price.

Bitcoin Price: Friday the 13th Daily Close Especially Significant

Technical analysts inside and out of the crypto market not only use indicators and review chart patterns, but they also look at individual candles themselves. Depending on their open, close, and the Bitcoin price action that takes place within the candle can help analysts make sense of what’s to come, and predict potential trend changes taking place before they actually occur.

Candle closes on higher timeframes, such as the monthly, weekly, 3-day, and daily are often used to determine greater periods of price action. Therefore, crypto analysts pay even closer attention to candles closing on these highest timeframes.

Today’s daily close, one crypto analyst says, is particularly important for Bitcoin price, and could determine the direction of the short to medium-term trend ahead.

https://twitter.com/cryptogainz1/status/1172313586326097920?s=21

The reason for this belief is due to what the analyst claims are both support and resistance clusters being heavily exhausted. This means that these supports and resistances have been weekend in both directions, and whichever one gives way first will likely result in a powerful move in that direction.

Could Superstition Have Anything To Do With Today’s Significance?

While the analyst’s belief is driven by the price action playing out on Bitcoin price charts, could today’s daily close being so important have something to do with superstition or astrology?

Today’s date just so happens to be Friday the 13th, a day known for bad luck and extreme superstition. Most believe that the superstition around the date was conceived after the film of the same namesake, however, the fear of the date may have arisen during the middle ages.

The number 13 itself is even considered unlucky, to the point where often multi-story buildings are built sans a 13th floor altogether.

https://twitter.com/Lichtmischer/status/1171897289604026369

Making matters all the more spooky is the fact that today is a full moon. Not just a full moon, but today is what scientist refer to as a “micromoon” that appears dimmer and smaller than regular full moons.

According to astrology, full moons are often times where significant change occurs. Could this full moon cause Bitcoin price to moon and set the trend for the weeks ahead? Or will Bitcoin price fall victim to the unlucky day that is Friday the 13th.

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.