{"id":427788,"date":"2020-06-18T20:00:56","date_gmt":"2020-06-18T20:00:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=427788"},"modified":"2020-06-18T17:14:15","modified_gmt":"2020-06-18T17:14:15","slug":"bitcoin-price-pump-consolidation","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-pump-consolidation\/","title":{"rendered":"Data Shows Bitcoin More Likely To Pump Following Consolidation, 20% Move Anticipated"},"content":{"rendered":"

Bitcoin price has been trading within an increasingly tightening range, consolidating and coiling up ahead of the asset’s next explosive move<\/a>. Analysts are mixed on the direction and have begun looking into past data to make sense of what’s to come.<\/p>\n

Past data shows that the leading cryptocurrency by market cap typically pumps out of consolidation, and when it does, a minimum move of 20% or more usually follows.<\/p>\n

Stagnant Sideways Trading Is Ready To End, When Will Cryptocurrency’s Notorious Volatility Return?<\/h2>\n

The cryptocurrency asset classed earned itself plenty of notoriety due to the wild price swings<\/a> commonly found throughout the market.<\/p>\n

Bitcoin’s parabolic surge from $1,000 to $20,000, then back to $3,000 is the perfect example of this. Those peaks and troughs happened in less than two years apart from one another, so it is uncommon that the asset class trades sideways for extended periods of time.<\/p>\n

Bitcoin price is at a critical junction. That comment has been made many times before, but as the asset brushes up against resistance at $10,000 yet again, and trading sideways for nearly two months running, a major move is expected one way or the other<\/a>.<\/p>\n

Related Reading | This Volatility Measuring Tool Is Signaling One of Bitcoin\u2019s Biggest Moves Yet\u00a0<\/a><\/strong><\/em><\/p>\n

When assets consolidate below resistance for so long, its often a sign that resistance will soon break. But $10,000 has proven nearly unbreakable for Bitcoin over the last several years.<\/p>\n

Each time it does make it above the key level, a strong rejection occurs. However, data shows that each time Bitcoin has consolidated for this long or more, the first-ever cryptocurrency pumps out of the sideways action, leaving a powerful 20% or higher move in its wake.<\/p>\n

\"bitcoin<\/p>\n

Bitcoin BTCUSD Daily Chart | Source: TradingView<\/a><\/pre>\n
Bitcoin Tends To Pump By 20% Or More Out Of Consolidation<\/h2>\n
According to data provided by a leading cryptocurrency analyst<\/a>, over the last ten years, Bitocin price has traded sideways for a period of five weeks or more just ten times.<\/p>\n
Nine out of the ten times, consolidation didn’t last beyond the 6th week. Before the sixth week has ended, a move of 20% or more has resulted when the consolidation finally breaks.<\/p>\n
The one bout of over six weeks of sideways, peaking at a full ten weeks, resulted in a 50% total decline.<\/p>\n
Of the remaining nine sideways trading phases, Bitcoin has pumped following a break of the stagnant price action, by 20% or higher.<\/p>\n
A 20% pump from current levels, would take Bitcoin price to above $11,250, and break out from downtrend resistance.<\/p>\n
\"bitcoin<\/p>\n
Bitcoin BTCUSD Monthly Chart | Source: TradingView<\/a><\/pre>\n
But these metrics are on the daily timeframe. Zooming out further, the cryptocurrency may not be ready to break out from longer-term consolidation<\/a>, signaling that a drop back down to lows is possible.<\/p>\n
Looking at past consolidation cycles on monthly timeframes, the asset consolidated for 549 days before breaking out into the first major bull run. After the peak was reached, the asset consolidated again, for a time period almost exactly double the length of the first consolidation phase.<\/p>\n
Related Reading | Over 900 Days Since Bitcoin All-Time High, Data Shows Another Year Before New Record\u00a0<\/a><\/strong><\/em><\/p>\n
If each lengthening cycle reduces relative volatility and takes double the time for the cryptocurrency to break out, the asset would have another four years left before a new all-time high is set.<\/p>\n
Crypto traders often talk about the max pain scenario. Few investors would argue that the most painful scenario possible, would be another four years of sideways. But this is the cryptocurrency and anything is possible. There’s not enough historical data to truly derive enough conclusive evidence, so all investors can do is speculate and stay sidelined until the direction is chosen.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price has been trading within an increasingly tightening range, consolidating and coiling up ahead of the asset’s next explosive move. Analysts are mixed on the direction and have begun looking into past data to make sense of what’s to come. Past data shows that the leading cryptocurrency by market cap typically pumps out of consolidation, and when it does, a minimum move of 20% or more usually follows. Stagnant Sideways Trading Is Ready To End, When Will Cryptocurrency’s Notorious Volatility Return? The cryptocurrency asset classed earned itself plenty of notoriety due to the wild price swings commonly found throughout the market. Bitcoin’s parabolic surge from $1,000 to $20,000, then back to $3,000 is the perfect example of this. Those peaks and troughs happened in less than two years apart from one another, so it is uncommon that the asset class trades sideways for extended periods of time. Bitcoin price is at a critical junction. That comment has been made many times before, but as the asset brushes up against resistance at $10,000 yet again, and trading sideways for nearly two months running, a major move is expected one way or the other. Related Reading | This Volatility Measuring Tool Is Signaling One of Bitcoin\u2019s Biggest Moves Yet\u00a0 When assets consolidate below resistance for so long, its often a sign that resistance will soon break. But $10,000 has proven nearly unbreakable for Bitcoin over the last several years. Each time it does make it above the key level, a strong rejection occurs. However, data shows that each time Bitcoin has consolidated for this long or more, the first-ever cryptocurrency pumps out of the sideways action, leaving a powerful 20% or higher move in its wake. Bitcoin BTCUSD Daily Chart | Source: TradingView Bitcoin Tends To Pump By 20% Or More Out Of Consolidation According to data provided by a leading cryptocurrency analyst, over the last ten years, Bitocin price has traded sideways for a period of five weeks or more just ten times. Nine out of the ten times, consolidation didn’t last beyond the 6th week. Before the sixth week has ended, a move of 20% or more has resulted when the consolidation finally breaks. The one bout of over six weeks of sideways, peaking at a full ten weeks, resulted in a 50% total decline. Of the remaining nine sideways trading phases, Bitcoin has pumped following a break of the stagnant price action, by 20% or higher. A 20% pump from current levels, would take Bitcoin price to above $11,250, and break out from downtrend resistance. Bitcoin BTCUSD Monthly Chart | Source: TradingView But these metrics are on the daily timeframe. Zooming out further, the cryptocurrency may not be ready to break out from longer-term consolidation, signaling that a drop back down to lows is possible. Looking at past consolidation cycles on monthly timeframes, the asset consolidated for 549 days before breaking out into the first major bull run. After the peak was reached, the asset consolidated again, for a time period almost exactly double the length of the first consolidation phase. Related Reading | Over 900 Days Since Bitcoin All-Time High, Data Shows Another Year Before New Record\u00a0 If each lengthening cycle reduces relative volatility and takes double the time for the cryptocurrency to break out, the asset would have another four years left before a new all-time high is set. Crypto traders often talk about the max pain scenario. Few investors would argue that the most painful scenario possible, would be another four years of sideways. But this is the cryptocurrency and anything is possible. There’s not enough historical data to truly derive enough conclusive evidence, so all investors can do is speculate and stay sidelined until the direction is chosen.<\/p>\n","protected":false},"author":517,"featured_media":427801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-427788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nData Shows Bitcoin More Likely To Pump Following Consolidation, 20% Move Anticipated<\/title>\n<meta name=\"description\" content=\"Bitcoin price has been trading within an increasingly tightening range, consolidating and coiling up ahead of the asset's next explosive move. 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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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