{"id":378667,"date":"2019-04-16T20:00:40","date_gmt":"2019-04-16T20:00:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=378667"},"modified":"2024-06-11T07:39:22","modified_gmt":"2024-06-11T07:39:22","slug":"crypto-analyst-bitcoin-price-chart-shows-textbook-bump-and-run-reversal-bottom","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-chart-shows-textbook-bump-and-run-reversal-bottom\/","title":{"rendered":"Crypto Analyst: Bitcoin Price Chart Shows Textbook Bump and Run Reversal Bottom"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin price<\/a> is at a critical juncture. The price of the first ever cryptocurrency has <a href=\"https:\/\/ktsl888.com\/2019\/04\/02\/crypto-community-bitcoin-price-rally\/\">rallied<\/a> far enough away from the current bear market low of $3,150 to give bulls confidence that the worst is behind them, but is still shy of a break of $6,000 that would confirm the bear market is over.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As traders, investors, and analysts review Bitcoin price charts to better determine if the bottom is indeed in, one particular crypto analyst has discovered similarities between Bitcoin\u2019s price chart structure and that of textbook examples of a bump-and-run reversal bottom. Examples from the textbook provided by the analyst could help crypto traders understand what two scenarios could play out in the coming days for Bitcoin.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Crypto Analyst: Bitcoin BARR Bottom Means \u201cBears Are Fucked\u201d<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">At the start of April,<a href=\"https:\/\/ktsl888.com\/2019\/04\/04\/bitcoin-price-rose-more-in-one-hour-than-last-two-months-combined\/\"> Bitcoin rallied nearly $1,000 in a matter of an hour<\/a>, breaking through resistance at $4,200 and skyrocketing toward $5,000 where it is currently ranging. The powerful move took the price of Bitcoin nearly $2,000 higher than its current bear market bottom, restoring bullish sentiment throughout the market and <a href=\"https:\/\/ktsl888.com\/2019\/04\/08\/crypto-analyst-bitcoin-price-bottom\/\">painting the first higher high since December 2017<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/04\/10\/bitcoin-technical-indicator-confirms-uptrend\/\">Bitcoin Technical Indicator Confirms New Uptrend After 16 Months of Red<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/ktsl888.com\/2019\/04\/10\/bitcoin-technical-indicator-confirms-uptrend\/\">Indicator<\/a>s, analysts, and more, are all <a href=\"https:\/\/ktsl888.com\/2019\/04\/10\/bitcoin-technical-indicator-confirms-uptrend\/\">suggesting that a bottom is indeed in<\/a> for the price of the leading cryptocurrency by market cap. The current bottom structure has been referred to by crypto chartists as an ascending triangle that broke up, an Adam and Eve bottom, and more. However, one particular analyst claims the price structure in Bitcoin more closely resembles a \u201ctextbook bump-and-run reversal bottom, and even offers up the textbook examples for comparison.<\/span><\/p>\n<p>https:\/\/twitter.com\/thalamu_\/status\/79598336<\/p>\n<p class=\"p1\"><span class=\"s1\">Crypto trader B.Biddles shared a Bitcoin price chart via <a href=\"https:\/\/twitter.com\/thalamu_\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Twitter<\/a> side-by-side with a textbook figure representing what a bump-and-run reversal bottom looked like in the price of Bethlehem Steel Corp shares. The structure is described as a steep \u201cdrop-off\u201d following a lead-in phase. After that, the price moves in a narrow range before pushing higher, creating a rounded \u201cbump\u201d bottom before making a \u201crun\u201d upward.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The analyst says that the chart structure means \u201cbears are fucked.\u201d<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">But Bears Still Have Time to Send Bitcoin Back to New Lows<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">However, bears are not done putting up a fight just yet, as the price of Bitcoin has been stopped in its tracks and is currently consolidating above $5,000.<\/span><\/p>\n<p>https:\/\/twitter.com\/thalamu_\/status\/75923714<\/p>\n<p class=\"p1\"><span class=\"s1\">The trader also shared another example from the textbook, this time showing what the pattern might look like if it fails, and warns crypto investors that the current price patter on <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> charts is still \u201cunfolding\u201d and \u201ccould fail\u201d just like the textbook example from Apple Computer Inc.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/04\/15\/bitcoin-price-weekly-candle-could-be-omen-of-painful-drop-incoming\/\">Bitcoin Price Weekly Candle Could Be Omen Of Painful Drop Incoming<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">In the example, the ascent is rejected and a throwback to the trendline leads to further downward movement. If Bitcoin is rejected, bearish sentiment should once again reign supreme, and a plummet down to new lows would be very likely as the market began to panic sell once again.<\/span><\/p>\n<pre>Feature image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is at a critical juncture. The price of the first ever cryptocurrency has rallied far enough away from the current bear market low of $3,150 to give bulls confidence that the worst is behind them, but is still shy of a break of $6,000 that would confirm the bear market is over. As traders, investors, and analysts review Bitcoin price charts to better determine if the bottom is indeed in, one particular crypto analyst has discovered similarities between Bitcoin\u2019s price chart structure and that of textbook examples of a bump-and-run reversal bottom. Examples from the textbook provided by the analyst could help crypto traders understand what two scenarios could play out in the coming days for Bitcoin. Crypto Analyst: Bitcoin BARR Bottom Means \u201cBears Are Fucked\u201d At the start of April, Bitcoin rallied nearly $1,000 in a matter of an hour, breaking through resistance at $4,200 and skyrocketing toward $5,000 where it is currently ranging. The powerful move took the price of Bitcoin nearly $2,000 higher than its current bear market bottom, restoring bullish sentiment throughout the market and painting the first higher high since December 2017. Related Reading | Bitcoin Technical Indicator Confirms New Uptrend After 16 Months of Red Indicators, analysts, and more, are all suggesting that a bottom is indeed in for the price of the leading cryptocurrency by market cap. The current bottom structure has been referred to by crypto chartists as an ascending triangle that broke up, an Adam and Eve bottom, and more. However, one particular analyst claims the price structure in Bitcoin more closely resembles a \u201ctextbook bump-and-run reversal bottom, and even offers up the textbook examples for comparison. https:\/\/twitter.com\/thalamu_\/status\/79598336 Crypto trader B.Biddles shared a Bitcoin price chart via Twitter side-by-side with a textbook figure representing what a bump-and-run reversal bottom looked like in the price of Bethlehem Steel Corp shares. The structure is described as a steep \u201cdrop-off\u201d following a lead-in phase. After that, the price moves in a narrow range before pushing higher, creating a rounded \u201cbump\u201d bottom before making a \u201crun\u201d upward. The analyst says that the chart structure means \u201cbears are fucked.\u201d But Bears Still Have Time to Send Bitcoin Back to New Lows However, bears are not done putting up a fight just yet, as the price of Bitcoin has been stopped in its tracks and is currently consolidating above $5,000. https:\/\/twitter.com\/thalamu_\/status\/75923714 The trader also shared another example from the textbook, this time showing what the pattern might look like if it fails, and warns crypto investors that the current price patter on Bitcoin charts is still \u201cunfolding\u201d and \u201ccould fail\u201d just like the textbook example from Apple Computer Inc. Related Reading | Bitcoin Price Weekly Candle Could Be Omen Of Painful Drop Incoming In the example, the ascent is rejected and a throwback to the trendline leads to further downward movement. If Bitcoin is rejected, bearish sentiment should once again reign supreme, and a plummet down to new lows would be very likely as the market began to panic sell once again. Feature image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":378670,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[35482,5687,428,679,35483],"class_list":["post-378667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-b-biddles","tag-bear-market","tag-bitcoin","tag-bitcoin-price","tag-bump-and-run-reversal"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Bitcoin Price Chart Shows Textbook Bump and Run Reversal Bottom<\/title>\n<meta name=\"description\" content=\"Bitcoin price is at a critical juncture. 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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\u2019s 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\u2019s 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\u2019s 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.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/ktsl888.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Crypto Analyst: Bitcoin Price Chart Shows Textbook Bump and Run Reversal Bottom","description":"Bitcoin price is at a critical juncture. 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