This Bitcoin Indicator Turned $5 Into $34,000

Tony "The Bull" Severino

Last Updated: June 11, 2024 7:08 am

2 mins read

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Everyone is looking for an edge when trading crypto. In a new video, a Bitcoin indicator designed for finding precise market turning points is used to turn $5 into $34,000.

The results are a shocking 88% success rate and more than 679,000% ROI. Let’s take a closer look.

About The Bitcoin Indicator Used: Fisher Transform

The Fisher TransformFisher Transform was created by John Elhers and first mentioned in the November 2002 Issue of Technical Analysis of Stocks and Commodities Magazine. The tool attempts to make sense of unpredictable price movements by using statistics.

The indicator takes price data and transforms it into a Gaussian normal distribution. All this means is that the tool tries to make the price data look like a more organized pattern that can be easier to understand.

In addition to using the tool’s turning points for buy and sell signals, passing through the zero line is also a sign that a trend is strengthening. While the tool is highly effective, combining its signals with Japanese candlesticks, chart patterns, and Elliott Wave Principle can improve results.

The monthly Fisher Transform | BTCUSD on TradingView.com

Turning $5 Of Bitcoin Into $34,000

In the video, the monthly Fisher Transform is used to generate buy and sell signals when the trigger line crosses above the fisher line from below or above, respectively.

The tool makes several bad trades. It notably loses some money it has earned on the way up at the second Bitcoin top in 2021. Despite a couple slip ups, the Fisher Transform turns $5 into $34,000 in the end. Over $30,000 is added during the best trade.

This translates to roughly a 679,000% ROI over the lifetime of BTCUSD price history. The shocking return is a reminder for investors and traders to find a technical system that works and then let it do its thing. Objective, non-discretionary trading systems may be boring but take emotions and bias out of the equation.

Tony is the author of the CoinChartist (VIP) newsletter. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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.

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