• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America

Two Bearish Signals, One Indicator: Bulls Beware of Bitcoin Push Beyond $10,000

Tony "The Bull" by Tony "The Bull"
3 years ago
in Bitcoin, Cryptocurrency Market News, Technical analysis
Reading Time: 3 mins read

After trading sideways for several months, Bitcoin may be ready to not only break out of the trading range but also break out from its multi-year triangle pattern.

However, bulls must beware of the latest push beyond $10,000 triggering not one, but two sell setups on the same indicator on BTCUSD daily price charts.

Bitcoin Possibly Preparing Breakout From Bear Market Into New Uptrend

The hype surrounding Bitcoin’s halving took the asset to above $9,000 in late April just weeks after Black Thursday cut the crypto asset down to $3,800. Profit-taking from an over 100% rally combined with buying ahead of what most investors believe to be the next bull market, led to an equilibrium in price action.

The sideways trend lasted over 90 days, but as of this week, ahead of expected stimulus packages from the US, BTCUSD has potentially begun a breakout.

bitcoin btcusd breakout

BTCUSD Daily Triangle Breakout | Source: TradingView

The leading cryptocurrency by market cap rose against the dollar starting early last week, surging over $1,000 to over $10,300 where it is currently trading.

Related Reading | How Will Bitcoin Respond To Its Biggest Listing Yet? The United States

The rally has broken above top trend line resistance stemming down from the asset’s all-time high, forming a massive, multi-year triangle. If BTCUSD can hold above the key trend line and close, it may be a sign that the new uptrend has officially begun.

But before bullish crypto investors break out the champagne glasses in celebration of the end of the bear market, not one, but two bearish signals have appeared on a very accurate indicator.

Combo-Breaker: Two Bearish Sell Signals Could Stop Cryptocurrency’s Advance

Reading through most cryptocurrency community threads, there’s a lot of back-patting and showboating by bulls. These crypto investors are already claiming victory over bears with Bitcoin trading back above $10,000 once again.

Although the cryptocurrency has been rejected at this level numerous times, the consensus is that this time is different.

Related Reading | What Happens Next? Bitcoin Range Falls To Tightest Point In History

Stimulus money is pumping gold and other assets, and altcoins are rallying around every corner. It shouldn’t be too surprising the most scarce asset in the world is growing against the dollar as the fiat currency floods the market.

But before bulls get ahead of themselves, this latest push above $10,000 has triggered two dangerous signals.

The TD Sequential indication has been used to call numerous tops and bottoms in Bitcoin on multiple timeframes. The asset triggered a sell at its all-time high, and again at the February 2020 top before Black Thursday.

bitcoin btcusd td sequential sell signal bear bulls

BTCUSD Daily TD Sequential 9 & 13 Sell Setup | Source: TradingView [Via: Moe_Mentum Twitter]

It is now back once again, signaling not only a 9 setup but a 13 combo setup on the indicator. Both a 9 or 13-count on their own constitute a sell setup on the indicator, created by market timing expert Thomas Demark.

The indicator isn’t flawless, and the current uptrend and conditions could prove too much for bears to gain any sort of advantage. However, given the indicator’s accuracy in the past, it would be wise for bulls to watch for the daily close today to see how the signal unfolds.

Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
Tweet123Share196ShareSend
Tony "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

Related Posts

Ripple

Massive Token Unlock: Ripple Releases One Billion XRP From Escrow

2 hours ago
XRP

XRP Hype Spikes As Price Surges 12%, Is This A Top Signal?

4 hours ago
Ethereum (ETH)

Ethereum Fees Plunge 69% From Yearly High, What This Means For ETH

6 hours ago
Can Shiba Inu Rebound As It Wraps Up May With A Discouraging 16% Decline?

Can Shiba Inu Rebound As It Wraps Up May With A Discouraging 16% Decline?

9 hours ago
Anoma Foundation Raises $25 Million To Enhance Its Intent-Centric Blockchain Platform

Anoma Foundation Raises $25 Million To Enhance Its Intent-Centric Blockchain Platform

9 hours ago
XRP

XRP $1 Threshold On The Horizon? Noted Trader Fuels Speculation

11 hours ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    23 hours ago
  • Willing to buy new crypto: Here are the best 10...

    1 day ago
  • Best Crypto Meme Coin Presales in 2023

    1 day ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • MOOKY Price Prediction – the next Dogecoin (DOGE)?

    1 hour ago
  • The Graph (GRT) and InQubeta (QUBE) Are Two Crypto AI...

    1 hour ago
  • Steadfastness Under Scrutiny: Mooky (MOOKY) and ApeMax...

    1 hour ago
  • Is Mooky the Next Breakout Star after the Impressive Gains...

    1 hour ago
  • Highly Anticipated Launch Date For AuraNFT Finally Gets...

    5 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.