{"id":383944,"date":"2019-05-28T01:03:49","date_gmt":"2019-05-28T01:03:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=383944"},"modified":"2024-06-11T13:43:29","modified_gmt":"2024-06-11T13:43:29","slug":"bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/","title":{"rendered":"Bull Market Not Confirmed Until Bitcoin Price Breaks Above $11.7K Where Bear Market Began"},"content":{"rendered":"<p>Read any crypto <a href=\"\/tag\/twitter\" rel=\"nofollow\">Twitter<\/a> feed or <a href=\"https:\/\/www.reddit.com\/r\/CryptoCurrency\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">sub-reddit<\/a>; bullish sentiment is in the air. The rally that began with a slow start in February and turned <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> into a jet-fueled rocket in April has reignited the excitement and irrational exuberance that once took the world by storm at the end of 2017.<\/p>\n<p>The parabolic rise has most feeling <a href=\"\/tag\/fomo\" rel=\"nofollow\">FOMO<\/a> and confident the bear market bottom is in. But some aren&#8217;t so convinced a bull market has yet to begun, and thinks that $11,700 is the only price level that if broken, confirms a bull market has begun.<\/p>\n<h2>Crypto Analyst: It&#8217;s Not a Bull Market Until Bitcoin &#8220;Breaks&#8221; $11,700<\/h2>\n<p>Bitcoin is once again making headlines in newspapers and on television, as the crypto asset has more than <a href=\"https:\/\/ktsl888.com\/2019\/05\/03\/is-the-bottom-in-bitcoin-price-btc-has-nearly-doubled-since-bear-market-low\/\">doubled in value<\/a> so far in 2019, to the delight of new investors of the emerging financial technology.<\/p>\n<p>Following the longest bear market on record, Bitcoin is working on its fourth consecutive green monthly candle close \u2013 something that only occurs during bull markets. However, not everyone is convinced the recent powerful upward price movement means the bulls are back in control.<\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/05\/25\/cme-futures-gaps-hint-bitcoin-price-is-headed-to-18000-or-higher\/\">CME Futures Gaps Hint Bitcoin Price is Headed to $18,000 Or Higher<\/a><\/em><\/strong><\/p>\n<p>One crypto analyst says that $11,700, a price Bitcoin fell below in January, and has never again been able to breach, despite two attempts at it \u2013 which formed a double top or &#8220;M&#8221; formation.<\/p>\n<p>https:\/\/twitter.com\/teddycleps\/status\/67992576?s=12<\/p>\n<p>Since the resistance did reject Bitcoin twice, and violently so, it very well could pose a challenge for Bitcoin if it gets to that level in the coming days ahead. Or, it could fall just as easily as the much hyped support-turned-resistance flip of $6,000 that Bitcoin left in its dust without so much as a second glance in the rear view mirror.<\/p>\n<p>Other crypto analysts are pointing the a similar price level as critical resistance and an important turning point for the cryptocurrency. If Bitcoin were to break $11,700, there&#8217;s not a lot of resistance ahead except for around the previous all-time high \u2013 a price where many may looking to finally sell at a break even.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">More to come <a href=\"https:\/\/t.co\/ISolcEscK0\" rel=\"nofollow\">pic.twitter.com\/ISolcEscK0<\/a><\/p>\n<p>&mdash; master \u24c2\ufe0f\ud83d\udd78 (@MASTERBTCLTC) <a href=\"https:\/\/twitter.com\/MASTERBTCLTC\/status\/34981376?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 27, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>After these levels are conquered, a new bull run will be &#8220;confirmed&#8221; and chances of Bitcoin reaching a new all-time high will increase significantly.<\/p>\n<p>Most crypto analysts had anticipated Bitcoin not reaching new all-time highs until 2020, if not later, yet the price of the cryptocurrency has such momentum behind it, its turned disbelief back into exuberance. But with a new, emerging asset class that behaves differently then other assets due to scarcity and a 24\/7, global marketplace filled with retail investors, truly anything is possible as recent weeks has shown.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/05\/23\/crypto-analyst-bitcoin-price-forming-symmetrical-triangle-60-chance-of-continuation\/\">Crypto Analyst: Bitcoin Price Forming Symmetrical Triangle, 60% Chance of Continuation\u00a0<\/a><\/strong><\/em><\/p>\n<p>Prior to the recent rally, many were calling for sub-$3,000 prices, with Bitcoin traders waging a full Bitcoin that their bearish calls would be accurate. Instead, the cryptocurrency has nearly tripled in value in just six short months from its bear market lows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read any crypto Twitter feed or sub-reddit; bullish sentiment is in the air. The rally that began with a slow start in February and turned Bitcoin price into a jet-fueled rocket in April has reignited the excitement and irrational exuberance that once took the world by storm at the end of 2017. The parabolic rise has most feeling FOMO and confident the bear market bottom is in. But some aren&#8217;t so convinced a bull market has yet to begun, and thinks that $11,700 is the only price level that if broken, confirms a bull market has begun. Crypto Analyst: It&#8217;s Not a Bull Market Until Bitcoin &#8220;Breaks&#8221; $11,700 Bitcoin is once again making headlines in newspapers and on television, as the crypto asset has more than doubled in value so far in 2019, to the delight of new investors of the emerging financial technology. Following the longest bear market on record, Bitcoin is working on its fourth consecutive green monthly candle close \u2013 something that only occurs during bull markets. However, not everyone is convinced the recent powerful upward price movement means the bulls are back in control. Related Reading | CME Futures Gaps Hint Bitcoin Price is Headed to $18,000 Or Higher One crypto analyst says that $11,700, a price Bitcoin fell below in January, and has never again been able to breach, despite two attempts at it \u2013 which formed a double top or &#8220;M&#8221; formation. https:\/\/twitter.com\/teddycleps\/status\/67992576?s=12 Since the resistance did reject Bitcoin twice, and violently so, it very well could pose a challenge for Bitcoin if it gets to that level in the coming days ahead. Or, it could fall just as easily as the much hyped support-turned-resistance flip of $6,000 that Bitcoin left in its dust without so much as a second glance in the rear view mirror. Other crypto analysts are pointing the a similar price level as critical resistance and an important turning point for the cryptocurrency. If Bitcoin were to break $11,700, there&#8217;s not a lot of resistance ahead except for around the previous all-time high \u2013 a price where many may looking to finally sell at a break even. More to come pic.twitter.com\/ISolcEscK0 &mdash; master \u24c2\ufe0f\ud83d\udd78 (@MASTERBTCLTC) May 27, 2019 After these levels are conquered, a new bull run will be &#8220;confirmed&#8221; and chances of Bitcoin reaching a new all-time high will increase significantly. Most crypto analysts had anticipated Bitcoin not reaching new all-time highs until 2020, if not later, yet the price of the cryptocurrency has such momentum behind it, its turned disbelief back into exuberance. But with a new, emerging asset class that behaves differently then other assets due to scarcity and a 24\/7, global marketplace filled with retail investors, truly anything is possible as recent weeks has shown. Related Reading | Crypto Analyst: Bitcoin Price Forming Symmetrical Triangle, 60% Chance of Continuation\u00a0 Prior to the recent rally, many were calling for sub-$3,000 prices, with Bitcoin traders waging a full Bitcoin that their bearish calls would be accurate. Instead, the cryptocurrency has nearly tripled in value in just six short months from its bear market lows.<\/p>\n","protected":false},"author":517,"featured_media":383945,"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":[428,679,12672,6664,12256,3654],"class_list":["post-383944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-bull-market","tag-crypto","tag-fomo","tag-resistance"],"acf":[],"yoast_head":"\n<title>Bull Market Not Confirmed Until Bitcoin Price Breaks Above $11.7K Where Bear Market Began<\/title>\n<meta name=\"description\" content=\"Read any crypto Twitter feed or sub-reddit; bullish sentiment is in the air. 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The rally that began with a slow start in February and turned Bitcoin price\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-28T01:03:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:43:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/05\/bitcoin-bull-bear-shutterstock_218090794.jpg?fit=801%2C472\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"472\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Bull Market Not Confirmed Until Bitcoin Price Breaks Above $11.7K Where Bear Market Began\",\"datePublished\":\"2019-05-28T01:03:49+00:00\",\"dateModified\":\"2024-06-11T13:43:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/\"},\"wordCount\":517,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/05\/bitcoin-bull-bear-shutterstock_218090794.jpg?fit=801%2C472\",\"keywords\":[\"bitcoin\",\"bitcoin price\",\"Bull Market\",\"crypto\",\"FOMO\",\"resistance\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/\",\"url\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/\",\"name\":\"Bull Market Not Confirmed Until Bitcoin Price Breaks Above $11.7K Where Bear Market Began\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bull-market-not-confirmed-until-bitcoin-price-breaks-above-11-7k-where-bear-market-began\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/05\/bitcoin-bull-bear-shutterstock_218090794.jpg?fit=801%2C472\",\"datePublished\":\"2019-05-28T01:03:49+00:00\",\"dateModified\":\"2024-06-11T13:43:29+00:00\",\"description\":\"Read any crypto Twitter feed or sub-reddit; bullish sentiment is in the air. 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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. 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