Crypto Analyst: Break of Current Bitcoin Resistance Will Commence Bull Run

Tony "The Bull" Severino

6 years ago

3 mins read

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The recent Bitcoin rally through months-long resistance at $4,200 has re-ignited the crypto market’s bullish fervor. After nearly a year and a half of bear market, a potential bottom may be in and it’s causing bulls to become more confident that the worst is behind us and a new bull run is close to starting.

One crypto analyst that’s recently gained a lot of attention in the cryptosphere, is now claiming that all of the top cryptocurrencies are currently behind held back by Bitcoin’s current resistance level, and that once it breaks, a new bull run will begin.

Analyst: Bitcoin Bull Run Begins After Break of $5,260

Ethereum trader and crypto analyst ScienceGuy9489 has recently made waves in the crypto space after emerging from a long slumber that pre-dates the peak of the last bull run and sharing some charts that predict not only target prices, but break out dates for Bitcoin, Ethereum, Ripple, and Litecoin.

The bullish calls were almost immediately validated when Bitcoin price rose nearly $1,000 in an hour – more than the previous two months of price growth combined.

Since then, the analyst has become a bit of a crypto celebrity, sharing a number of charts and predictions on where the market will go next.

https://twitter.com/ScienceGuy9489/status/1115655412332679168

In his latest tweet, the crypto analyst claims that a breakout above $5,260 in Bitcoin price charts, will “cause another bull run.” He further suggests that Ethereum, Litecoin, Ripple, and Stellar – other major cryptocurrencies in the top ten by market cap – are being held back by the critical resistance level.

If the resistance is broken, he says to “expect big gains” if the rally is sustained. If Bitcoin is unable to break through $5,260 and maintain its gains, then he recommends selling the resistance until it is eventually broken.

https://twitter.com/ScienceGuy9489/status/1115661127994630145

Trader Sets Lofty Price Targets For Top Cryptos

ScienceGuy9489’s previous predictions came with oddly specific breakout dates. The dates haven’t yet been reached, but all of the proposed breakouts of downtrend lines have occurred.

Due to the fact this trader appeared after well over a year of silence, only to appear and share charts that immediately played out, he’s being given additional credence for his predictions by the crypto community at large. However, the one piece of the puzzle that’s left investors scratching their heads: the price targets that beat each cryptocurrency’s previous all-time high.

That’s right, the trader is predicting Bitcoin to reach $28,100, Ethereum to hit $2,090, Litecoin to reach $650, and Ripple to skyrocket to $4 per XRP. There’s no date as to when each target may be reached, but if he’s right about a bull run resuming with a break of $5,260, then these prices may soon become a reality.

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.