{"id":466971,"date":"2021-07-06T20:00:32","date_gmt":"2021-07-06T20:00:32","guid":{"rendered":"https:\/\/ktsl888.com\/?p=466971"},"modified":"2024-06-11T10:07:34","modified_gmt":"2024-06-11T10:07:34","slug":"bitcoin-trend-strength-indicator-suggests-bull-run-isnt-yet-over","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-trend-strength-indicator-suggests-bull-run-isnt-yet-over\/","title":{"rendered":"Bitcoin Trend Strength Indicator Suggests Bull Run Isn&#8217;t Yet Over"},"content":{"rendered":"<p>Bitcoin price is still stuck well below $35,000 but any attempt to push prices below $30,000 <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-bull-signal-best-hope-rsi\/\">are bought up in minutes<\/a>. Eventually, one side will have to break, and according to a trend indicator, it could be in favor of bulls.<\/p>\n<p>The tool, which measures the strength of a trend, suggests that the more dominant high timeframe bull trend isn&#8217;t anywhere close to finished, and it could lead to enormous upside if history repeats.<\/p>\n<h2>Technical Analysis 101: How To Read The Average Directional Index<\/h2>\n<p>The <a href=\"https:\/\/ktsl888.com\/topic\/how-to-gauge-trend-strength\/\">Average Directional Index<\/a> isn&#8217;t as popular as some of the other tools created by <a href=\"https:\/\/en.wikipedia.org\/wiki\/J._Welles_Wilder_Jr.\" target=\"_blank\" rel=\"noopener nofollow\">J. Welles Wilder Jr.<\/a> such as the Relative Strength Index, or Parabolic SAR \u2013 two indicators widely covered here recently.<\/p>\n<p>Each tool has a unique use, and the ADX is <a href=\"https:\/\/ktsl888.com\/topic\/how-to-gauge-trend-strength\/\">designed to measure the strength<\/a> of a trending asset \u2013 for example, Bitcoin. The ADX is commonly featured with a Directional Movement Index included, made up of a DI+ and DI- indicator.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-bull-signal-best-hope-rsi\/\">Bull Signal From Bitcoin Bottom Is Best Hope Yet For Continuation<\/a><\/strong><\/em><\/p>\n<p>The negative directional indicator and positive\u00a0directional indicator tell analysts which side of the market controls the momentum \u2013 bears or bulls.\u00a0Essentially, if the green line is above the red, bulls are in charge and vice versa.<\/p>\n<p>Reading the ADX itself is a bit different. The higher the reading, the stronger the trend is. A fall to below a reading of 20 indicates that there&#8217;s a distinct lack of a trend, or in other words \u2013 <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/potential-bitcoin-false-bottom\/\">the trend has ended<\/a>. Armed with this knowledge, here&#8217;s how it all applies to what&#8217;s going on with Bitcoin currently.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-466972 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/bitcoin-bull-trend.png?resize=860%2C418\" alt=\"bitcoin bull trend\" width=\"860\" height=\"418\"><\/p>\n<pre style=\"text-align: center\">The weekly bull trend isn't over yet according to the ADX | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<h2>What The ADX Says About The Bitcoin Bull Trend<\/h2>\n<p>The chart above suggests that the weekly bull trend has never ended, even if bears have gained the upper hand for now. With the greater bull trend in tact, bulls still have a chance to prevent it from ending completely just yet. Past instances of the bull trend ending were more obvious and resulted in significant bearish downside.<\/p>\n<p>The leading cryptocurrency by market cap has already experienced a sharp selloff, but the selling has stopped at $30,000 <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-bull-signal-best-hope-rsi\/\">for several weeks now<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-466977 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/bitcoin-bull-trend-daily.png?resize=860%2C398\" alt=\"bitcoin bull trend daily\" width=\"860\" height=\"398\"><\/p>\n<pre style=\"text-align: center\">The daily bear trend might need to conclude before more upside | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Switching to lower timeframes, the chart above shows that the short-term bear trend hasn&#8217;t finished yet, and the crypto market could spend another couple months trying to put in a bottom (green box). Note specifically how the previous top took several months to form (red box).<\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/potential-bitcoin-false-bottom\/\" target=\"_blank\" rel=\"noopener \">Building The Case For A Potential Bitcoin False Bottom<\/a><\/em><\/strong><\/p>\n<p>The ADX falling below 20 clearly marked the end of the short-term bull impulse, and a fall below 20 might be necessary for the bear trend to have concluded.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-466978 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/bitcoin-bull-trend-monthly.png?resize=860%2C398\" alt=\"bitcoin bull trend monthly\" width=\"860\" height=\"398\"><\/p>\n<pre style=\"text-align: center\">On monthly timeframes, the secular bull run has never ended | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Zooming out even further should give even <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/extreme-fear-in-crypto-markett\/\">the most shaken bulls<\/a> more confidence. On monthly timeframes, bears never have even had a chance with the top cryptocurrency.<\/p>\n<p>The ADX says the strength of the trend hasn&#8217;t reached anywhere near the high point of the 2017 bull market, and might only be starting with the next recovery. From the low put in following the white box in 2016 resulted in another 3900% in continuation.<\/p>\n<p>Could that be what&#8217;s next for crypto?<\/p>\n<pre>Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is still stuck well below $35,000 but any attempt to push prices below $30,000 are bought up in minutes. Eventually, one side will have to break, and according to a trend indicator, it could be in favor of bulls. The tool, which measures the strength of a trend, suggests that the more dominant high timeframe bull trend isn&#8217;t anywhere close to finished, and it could lead to enormous upside if history repeats. Technical Analysis 101: How To Read The Average Directional Index The Average Directional Index isn&#8217;t as popular as some of the other tools created by J. Welles Wilder Jr. such as the Relative Strength Index, or Parabolic SAR \u2013 two indicators widely covered here recently. Each tool has a unique use, and the ADX is designed to measure the strength of a trending asset \u2013 for example, Bitcoin. The ADX is commonly featured with a Directional Movement Index included, made up of a DI+ and DI- indicator. Related Reading | Bull Signal From Bitcoin Bottom Is Best Hope Yet For Continuation The negative directional indicator and positive\u00a0directional indicator tell analysts which side of the market controls the momentum \u2013 bears or bulls.\u00a0Essentially, if the green line is above the red, bulls are in charge and vice versa. Reading the ADX itself is a bit different. The higher the reading, the stronger the trend is. A fall to below a reading of 20 indicates that there&#8217;s a distinct lack of a trend, or in other words \u2013 the trend has ended. Armed with this knowledge, here&#8217;s how it all applies to what&#8217;s going on with Bitcoin currently. The weekly bull trend isn&#8217;t over yet according to the ADX | Source: BTCUSD on TradingView.com What The ADX Says About The Bitcoin Bull Trend The chart above suggests that the weekly bull trend has never ended, even if bears have gained the upper hand for now. With the greater bull trend in tact, bulls still have a chance to prevent it from ending completely just yet. Past instances of the bull trend ending were more obvious and resulted in significant bearish downside. The leading cryptocurrency by market cap has already experienced a sharp selloff, but the selling has stopped at $30,000 for several weeks now. The daily bear trend might need to conclude before more upside | Source: BTCUSD on TradingView.com Switching to lower timeframes, the chart above shows that the short-term bear trend hasn&#8217;t finished yet, and the crypto market could spend another couple months trying to put in a bottom (green box). Note specifically how the previous top took several months to form (red box). Related Reading | Building The Case For A Potential Bitcoin False Bottom The ADX falling below 20 clearly marked the end of the short-term bull impulse, and a fall below 20 might be necessary for the bear trend to have concluded. On monthly timeframes, the secular bull run has never ended | Source: BTCUSD on TradingView.com Zooming out even further should give even the most shaken bulls more confidence. On monthly timeframes, bears never have even had a chance with the top cryptocurrency. The ADX says the strength of the trend hasn&#8217;t reached anywhere near the high point of the 2017 bull market, and might only be starting with the next recovery. From the low put in following the white box in 2016 resulted in another 3900% in continuation. Could that be what&#8217;s next for crypto? Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":466974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[79552,428,1119,1144,83828,6664,4524,76835],"class_list":["post-466971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-average-directional-index","tag-bitcoin","tag-btc","tag-btcusd","tag-btusd","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Trend Strength Indicator Suggests Bull Run Isn&#039;t Yet Over<\/title>\n<meta name=\"description\" content=\"Bitcoin price is still stuck well below $35,000 but any attempt to push prices below $30,000 are bought up in minutes. 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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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