Stellar Cryptocurrency Prints a “TD9”: Here’s Why It Means More Upside is Likely

Tony "The Bull" Severino

Last Updated: May 13, 2020 10:47 pm

2 mins read

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The cryptocurrency known as Stellar has been a relatively poor performer over the last several years, however, throughout 2020 the once-booming altcoin has been showing signs of a strong recovery.

Now, the asset has printed a TD9 on daily price charts, following an over 10% intraday rally. Is this a sign that an altcoin season may soon begin?

XLMUSD Closes 10% Daily Gain, But More Upside is Likely For Altcoins

Last night’s daily close on the XLMUSD trading pair solidified an over 10% rally on the day in the altcoin.

The cryptocurrency known as Stellar lumens has fared extremely poorly throughout the bear market, alongside the likes of XRP. But things appear to be reversing in recent weeks as the Bitcoin halving draws attention to the cryptocurrency space once again.

It was after the last halving that altcoins began their incredible ascent towards all-time high prices, and the cycle could be restarting again.

A fractal is even forming on Stellar price charts on the XLMUSD trading pair, signaling that major upside is ahead. Backing up the potential chart formation, a TD 9 buy setup has also been triggered.

Stellar TD 9 Buy Coinciding With Bitcoin Halving Could Cause Alt Season

The TD Sequential indicator created by market timing expert Thomas Demark, has signaled a 9 “buy” setup on XLMUSD. In the past, the TD Sequential indicator has shown incredible accuracy and precision in calling tops and bottoms in the crypto market.

The indicator called Bitcoin’s top in February 2020, the bottom in December 2019, and the all-time high peak at $20,000. It has also shown value as an accurate indicator for altcoins like Stellar lumens.

A number of other altcoins recently had similar signals trigger pointing to further upside in the days ahead, Bitcoin has triggered a sell setup instead.

Bitcoin crashing typically doesn’t bode well for altcoins like Stellar, but this time could be different. The Bitcoin halving kicked off the first-ever extended altcoin season and could do so again.

A fractal on XLMUSD price charts shows just how stellar the next cryptocurrency bull market might be. Fractals are patterns that repeat with peculiar accuracy and are the result of human emotion.

Bitcoin dominance charts demonstrated that altcoins are at a critical, bounce or die junction. A crash in Bitcoin could theoretically cause altcoins to bounce on BTC trading pairs, kicking off yet another extended altcoin season.

With XLM showing early signs of renewed interest in altcoins and buy signals backing up the bullish momentum, the next cryptocurrency bull market may finally be here.

Featured image from 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.

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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.