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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 Reminds Traders That It’s Buy The Dip Season in Bitcoin

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read

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Since the start of April 2019, there have been many changes occurring across the crypto market as Bitcoin surges once again. The bearish sentiment of the year prior turned into disbelief and soon after, into hope that another bull run has started to emerge out of the depths of the bear market lows.

As the market cycles from bear to bull trends, how traders and investors approach taking positions too should change, and one prominent crypto analyst and trader is taking the opportunity to reminder crypto investors that when it comes to Bitcoin, it’s “buy the dip” season, and that shorting any bounces is a “risky” strategy to take.

Retracement, Not Reversal: Crypto Analyst Highlights Market Sentiment Shift

Now that Bitcoin’s parabolic rally has started to pull back, the sentiment across the crypto market has once again flipped from bullish to bearish in short order. But before the bears go ahead and put in that short order, they may want to reconsider, according to one prominent crypto analyst.

Related Reading | Only 3 Months Exist Where Buying Bitcoin Resulted in Losses 

Crypto analyst GalaxyBTC, tweeted a public service announcement reminding crypto traders and investors that the market has changed, and so should trading strategies.

Surprised on how bearish the sentiment is on this correction of a strong uptrend

People are actually waiting to short the bounce

Extremely risky play and the price could turn to the upside any moment, strong and fast, as it did before

This is a retracement not a reversal$BTC

— Galaxy (@galaxyBTC) June 5, 2019

According to the analyst, those that are looking to short any bounces occurring in Bitcoin price charts at support levels, are making an “extremely risky play.” Given how powerful Bitcoin can rally during bull markets, the trader reminds investors that the price “could turn to the upside any moment, strong and fast, as it did before.”

During bear markets, traders are encouraged to short every bounce at support, and sell into resistance. The opposite is true for bull markets, where “buying the dip” is the recommended strategy.

Many traders that got into the crypto market following the 2017 hype bubble have only known bear market, and may struggle to shake their bearish trading strategies. As the market cycle begins to change from bear to bull, traders should take a second look at the strategies they have become familiar with over the course of the last two years.

Bull markets move fast and violently, and most typical corrections in Bitcoin during a bull market have resulted in corrections of up to 30%, before propelling further upward once the previous level has been reclaimed.

Related Reading | Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor’s Best Bet 

At the time of this writing, Bitcoin’s parabolic curve has yet to be violated, which could result in further upward momentum before finally providing traders with a 30% or more correction for dip-buying. The current correction only sits at around 20% decline, and past bull market results suggest we could have further to fall before Bitcoin resumes its climb higher. Whichever way Bitcoin goes next, investors are advised to buy the dip, whenever that finally occurs.

Featured image from Shutterstock

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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

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