Accurate Crypto Top and Bottom Indicator Gives Mixed Bag of Signals

Tony "The Bull" Severino

1 year ago

2 mins read

bitcoin ethereum binance coin altcoin crypto mixed bag

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Bitcoin price just touched over $9,500, while altcoins have set new lows on their BTC trading pairs.

Amidst the crypto confusion, a highly reliable indicator just gave a mixed bag of signals that has only added to the usual state of the cryptocurrency market.

Crypto Market Assets Appear to Be Deviating in Correlation Cycle

The crypto market is like the wild west. Most anything goes, there are very few laws or rules, and is filled with notorious figures.

Speculative assets with nothing by hype often outperform assets with tried-and-true use cases.

However, the correlated relationship between Bitcoin and altcoins is usually reliable and gives a sense of normalcy across the asset class.

Most crypto investors know, when Bitcoin rises, altcoins crash, and when Bitcoin crash, altcoins get decimated.

Altcoins most typically shine during phases of Bitcoin trading sideways.

Bitcoin’s latest pre-halving pump did as expected and caused altcoins to drop in value. This is highly visible on the BTC trading pairs of top altcoins like Ethereum, Ripple, or Tezos.

However, a batch of buy and sell signals across top cryptocurrencies – Bitcoin and altcoins included – indicates that a divergence in this relationship could soon be here.

TD Sequential Hands Out Buy and Sell Signals To Bitcoin and Altcoins

This divergence suggests that Bitcoin will soon crash, but altcoins will surge.

Bitcoin daily price charts have triggered a TD 13 setup sell candle on the cryptocurrency just ahead of its halving.

Interestingly, BTC dominance, however, has also triggered a sell signal coinciding with TD 9 buy signals across most major altcoins. The TD Sequential indicator has been highly accurate in the crypto space.

Ethereum, EOS, and Binance Coin all gave the buy signal, and in recent weeks, Litecoin and XRP had similar signals.

While most crypto investors are expecting Bitcoin to moon with the halving here, it could be altcoins that really thrive.

BTC dominance charts dating back to 2016 show that it was actually the same week as Bitcoin‘s halving that set off the very first altcoin season and set BTC dominance on a downward sloping path.

Once BTC dominance showed its first-ever sign of weakness, altcoins took over and exploded with over 1000% gains in many cases.

These assets only further ballooned in value for the two years following, leading to the crypto hype bubble in 2017.

At that time, those assets set their record peak prices, then fell into a bear market.

Markets are cyclical, and history repeats. Is it time for the altcoin cycle to start again, coinciding with Bitcoin’s halving once again?

Featured image by Pixabay

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.