{"id":401474,"date":"2019-10-15T23:00:05","date_gmt":"2019-10-15T23:00:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=401474"},"modified":"2019-10-15T19:22:39","modified_gmt":"2019-10-15T19:22:39","slug":"bitcoin-bear-flag-could-cause-crypto-asset-to-retest-february-2018-lows","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-bear-flag-could-cause-crypto-asset-to-retest-february-2018-lows\/","title":{"rendered":"Bitcoin Bear Flag Could Cause Crypto Asset To Retest February 2018 Lows"},"content":{"rendered":"<p class=\"p2\"><span class=\"s1\">As the 2019 parabolic rally came to a close, <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> began to trade within a large, multi-month descending triangle pattern that only just recently broke down after extensive consolidation.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">According to a popular crypto analyst, the breakdown resulted in Bitcoin forming a bear flag, and it likely signals further continuation to the downside, potentially as low as the price Bitcoin reached back in February 2018 when the crypto bear market first got underway.<\/span><\/p>\n<h2>Further Bitcoin Breakdown Puts Asset At Risk for Retest of Initial Bear Market Lows<\/h2>\n<p class=\"p2\"><span class=\"s1\">After Bitcoin peaked at its all-time high of $20,000 back in December of 2017, its value then fell nearly 70% to form a V-shaped low around $5,800 in February 2018 \u2013 just two months after the top was in, underscoring the volatility the cryptocurrency is known for.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/10\/11\/crypto-analyst-bitcoin-continues-to-follow-bear-market-bottom-fractal\/\">Crypto Analyst: Bitcoin Continues To Follow Bear Market Bottom Fractal\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p2\"><span class=\"s1\">That same low from back in 2018, could be the next stop for Bitcoin price if a bear flag the asset is currently trading in confirms and the crypto asset continues along with its newly formed downtrend.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I literally can&#39;t find any bullish arguments for <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> here. <\/p>\n<p> Breaks down from a 4 month structure into a clear Bear flag. <\/p>\n<p>I think it&#39;s inevitable we see fresh lows. Feb 2018 lows are begging to be tapped imo. <a href=\"https:\/\/t.co\/fKXnChugtJ\" rel=\"nofollow\">pic.twitter.com\/fKXnChugtJ<\/a><\/p>\n<p>&mdash; CRG (@MacroCRG) <a href=\"https:\/\/twitter.com\/MacroCRG\/status\/13967110?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 15, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p2\"><span class=\"s1\">According to a prominent crypto analyst, there aren\u2019t any bullish arguments for Bitcoin at all to be found in the asset\u2019s price charts, following a breakdown from a \u201c4 month structure into a clear bear flag.\u201d<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">The analyst believes that given the price action and current chart formations, Bitcoin will inevitably set fresh local lows, and could revisit the aforementioned February 2018 low.<\/span><\/p>\n<h2>Is the Crypto Bear Market Bottom Actually In? Or Was the 2019 Rally Just a Dead Cat Bounce?<\/h2>\n<p class=\"p2\"><span class=\"s1\">If that low is reached, a bottom of the current correction may finally be put in, and <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> could return on its parabolic rally and bull run, leading up to the halving in May 2020. Many analysts believe that the leading crypto asset by market cap could reach as much as $55,000 per BTC before its upcoming halving, according to the highly-cited Bitcoin stock-to-flow model.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">However, that number would be nearly a 1000% gain from the lows currently being targeted. Such gains would be highly unlikely in most asset classes, however, Bitcoin can rise and fall substantially in a very short amount of time, and has already risen from $3,100 to $14,000 this year, showing that anything is possible for the first-ever crypto asset.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/10\/14\/wyckoff-logic-suggests-bitcoin-markdown-has-only-just-begun\/\">Wyckoff Logic Suggests Bitcoin Markdown Has Only Just Begun<\/a>\u00a0<\/strong><\/em><\/p>\n<p class=\"p2\"><span class=\"s1\">But if there truly aren\u2019t any bullish arguments to be made for Bitcoin, the crypto asset could be at risk of setting a new low, deeper than the current bear market bottom it set back in December 2018 at $3,100. This would mean that the bear market never actually ended, and the entire rally from $3,100 to $14,000 was nothing more than an extremely lucrative dead cat bounce.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>As the 2019 parabolic rally came to a close, Bitcoin began to trade within a large, multi-month descending triangle pattern that only just recently broke down after extensive consolidation. According to a popular crypto analyst, the breakdown resulted in Bitcoin forming a bear flag, and it likely signals further continuation to the downside, potentially as low as the price Bitcoin reached back in February 2018 when the crypto bear market first got underway. Further Bitcoin Breakdown Puts Asset At Risk for Retest of Initial Bear Market Lows After Bitcoin peaked at its all-time high of $20,000 back in December of 2017, its value then fell nearly 70% to form a V-shaped low around $5,800 in February 2018 \u2013 just two months after the top was in, underscoring the volatility the cryptocurrency is known for. Related Reading | Crypto Analyst: Bitcoin Continues To Follow Bear Market Bottom Fractal\u00a0 That same low from back in 2018, could be the next stop for Bitcoin price if a bear flag the asset is currently trading in confirms and the crypto asset continues along with its newly formed downtrend. I literally can&#39;t find any bullish arguments for $BTC here. Breaks down from a 4 month structure into a clear Bear flag. I think it&#39;s inevitable we see fresh lows. Feb 2018 lows are begging to be tapped imo. pic.twitter.com\/fKXnChugtJ &mdash; CRG (@MacroCRG) October 15, 2019 According to a prominent crypto analyst, there aren\u2019t any bullish arguments for Bitcoin at all to be found in the asset\u2019s price charts, following a breakdown from a \u201c4 month structure into a clear bear flag.\u201d The analyst believes that given the price action and current chart formations, Bitcoin will inevitably set fresh local lows, and could revisit the aforementioned February 2018 low. Is the Crypto Bear Market Bottom Actually In? Or Was the 2019 Rally Just a Dead Cat Bounce? If that low is reached, a bottom of the current correction may finally be put in, and Bitcoin could return on its parabolic rally and bull run, leading up to the halving in May 2020. Many analysts believe that the leading crypto asset by market cap could reach as much as $55,000 per BTC before its upcoming halving, according to the highly-cited Bitcoin stock-to-flow model. However, that number would be nearly a 1000% gain from the lows currently being targeted. Such gains would be highly unlikely in most asset classes, however, Bitcoin can rise and fall substantially in a very short amount of time, and has already risen from $3,100 to $14,000 this year, showing that anything is possible for the first-ever crypto asset. Related Reading | Wyckoff Logic Suggests Bitcoin Markdown Has Only Just Begun\u00a0 But if there truly aren\u2019t any bullish arguments to be made for Bitcoin, the crypto asset could be at risk of setting a new low, deeper than the current bear market bottom it set back in December 2018 at $3,100. This would mean that the bear market never actually ended, and the entire rally from $3,100 to $14,000 was nothing more than an extremely lucrative dead cat bounce. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":401476,"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":[57809,5687,428,1079,6664],"class_list":["post-401474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bear-flag","tag-bear-market","tag-bitcoin","tag-bottom","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Bear Flag Could Cause Crypto Asset To Retest February 2018 Lows<\/title>\n<meta name=\"description\" content=\"As the 2019 parabolic rally came to a close, Bitcoin began to trade within a large, multi-month descending triangle pattern that only just recently broke\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-bear-flag-could-cause-crypto-asset-to-retest-february-2018-lows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Bear Flag Could Cause Crypto Asset To Retest February 2018 Lows\" \/>\n<meta property=\"og:description\" content=\"As the 2019 parabolic rally came to a close, Bitcoin began to trade within a large, multi-month descending triangle pattern that only just recently broke\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-bear-flag-could-cause-crypto-asset-to-retest-february-2018-lows\/\" \/>\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=\"2019-10-15T23:00:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-15T19:22:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/bitcoin-bear-market-crypto-winter-shutterstock_1038215065.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4392\" \/>\n\t<meta property=\"og:image:height\" content=\"2764\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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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