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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

Crypto Analyst on Bitcoin Collapse: Never Underestimate The Power of TD Sequential

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
2 mins read

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Created by industry experts and meticulously reviewed
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Just ahead of last night’s daily close, Bitcoin price exploded above $10,000 in a powerful break of the asset’s most important resistance, liquidating overleveraged shorts along the way.

But Sunday night’s daily price candle coming to a close also opened a new weekly price candle, which also triggered a TD 9 sell setup. It’s that signal that may have accurately called today’s flash crash in Bitcoin, reminding crypto traders to never underestimate the power of the TD Sequential indicator.

Bitcoin Flash Crash Called In Advance By TD 9 Sell Setup

With Sunday night’s weekly and monthly candle closed, a new week and month opened with it. June 1 kicked off with an explosive rally that seemed to put an end to the popular investment phrase “sell in May and go away.”

Bitcoin price rocketed ahead of last night’s daily close by over $600 and 6%, breaking above $10,000. The leading cryptocurrency by market cap has struggled with the resistance level for years now.

Related Reading | Bitcoin Price Flash Crashes $600 In Less Than 5 Minutes, Last Night’s Rally Erased

The pump brought the price of Bitcoin just high enough to perfect the sell setup on the TD Sequential indicator, which requires the 9 candle to push higher than the 7 or 8 candles before it.

Bitcoin held above $10,000 overnight, but this afternoon flash crashed by $600 and 6%, erasing the entire rally from last night in what the crypto market refers to as a “Bart” pattern.

https://twitter.com/Moe_mentum_/status/1267852003297894403

One crypto analyst who pointed out the 9 sell setup ahead of last night’s crash, used the successful call to remind crypto traders to “never underestimate” the power of the TD Sequential indicator.

Why You Shouldn’t Underestimate The TD Sequential Indicator

In the image below, you can clearly see how the wick on the 9 candle extended higher than the previous several candles. It also touched a key resistance block that Bitcoin has been unable to close above on weekly timeframes.

bitcoin btcusd btcusdt xbtusd

Also pictured above, a 9 candle can be seen at the top of the June 2019 rally that sent Bitcoin back into another year-long downtrend.

The TD Sequential indicator created by market timing expert Thomas Demark, has once again shown to the cryptocurrency world just how powerful and accurate the tool can be.

A TD 9 signal also called Bitcoin’s top at $20,000 in 2017, and bottoms at $3,200 and again at $6,400 in December of 2018 and 2019.

Related Reading | Top Cryptocurrency Assets Trigger TD9 Sell On Weekly Price Charts 

The tool works extremely well with altcoins also. A TD 9 sell signal also triggered on various altcoins on weekly timeframes, including Etheruem, Chainlink, Cardano, and many more.

Given how accurate the signal can be, the rally from $4,000 to $10,000 may now be complete, and a strong correction could soon follow.

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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

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