{"id":468679,"date":"2021-08-04T20:00:13","date_gmt":"2021-08-04T20:00:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=468679"},"modified":"2024-06-11T13:57:30","modified_gmt":"2024-06-11T13:57:30","slug":"hammer-golden-ratio-6-bullish-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/hammer-golden-ratio-6-bullish-bitcoin\/","title":{"rendered":"How A Hammer &amp; The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin"},"content":{"rendered":"<p>Bitcoin price is attempting to get back above $40,000, and with that milestone out of the way, $50,000 and $60,000 next stand in the way between it and <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/five-bullish-bitcoin-charts-blast-off\/\">another new all-time high<\/a>.<\/p>\n<p>Although things have taken a bearish turn over the last quarter, the next two quarters in Bitcoin could end up being the most profitable yet, if a recurring theme involving a hammer reversal and the golden ratio results in a similar conclusion. Here&#8217;s a closer look at the chart and what it could suggest happens from here across the crypto market.<\/p>\n<h2>The Recurring Hammer Reversal With Golden Results<\/h2>\n<p>Bitcoin is at a very unusual point it its market cycle. The bull run that everyone expected to take the leading cryptocurrency by market cap to prices <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-btc-massively-undervalued\/\">well over $100,000 per coin<\/a> has already potentially fizzled out. Or at least that is how it looks to most observers.<\/p>\n<p style=\"text-align: center\"><b><i>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/five-bullish-bitcoin-charts-blast-off\/\">Five Bullish Monthly Charts That Suggest BTC Will Blast Off<\/a><\/i><\/b><\/p>\n<p>By most standards, a 20% crash in equities would cause a &#8220;bear market&#8221; <a href=\"https:\/\/www.investopedia.com\/terms\/b\/bearmarket.asp#:~:text=A%20bear%20market%20is%20when,pessimism%20and%20negative%20investor%20sentiment.&amp;text=Bear%20markets%20also%20may%20accompany%20general%20economic%20downturns%20such%20as%20a%20recession.\" target=\"_blank\" rel=\"noopener nofollow\">by definition<\/a>. In crypto, the entire thing can collapse by more than 70% and still somehow be bullish. And that&#8217;s exactly what might have happened recently, as the Bitcoin price chart now depicts a recurring bullish signal that has provided &#8220;golden&#8221; results.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-468680 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/bitcoin-bullish-golden-ratio-hammer.png?resize=860%2C418\" alt=\"bitcoin bullish golden ratio hammer\" width=\"860\" height=\"418\"><\/p>\n<pre style=\"text-align: center\">If cycles are extending, there could be six more months of bull market<span class=\"Apple-converted-space\">\u00a0<\/span>| Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BLX\/?exchange=BNC\" rel=\"nofollow\">BLX on TradingView.com<\/a><\/pre>\n<h2>Bitcoin Bull Market Could Extend Another 6 Months From Here<\/h2>\n<p>The chart above shows <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/five-bullish-bitcoin-charts-blast-off\/\">Bitcoin price<\/a> over the last decade, along with each of the three major boom and bust cycles we&#8217;ve seen so far. The most recent took Bitcoin from $168 to nearly $20,000 at the peak.<\/p>\n<p>What is believed to be the current rally, has taken a pause at around $65,000 and sent the cryptocurrency reeling and crashing back to $30,000. The support level since held, and on the monthly timeframe <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-bulls-hammer-of-thor-reversal\/\">a hammer Japanese candlestick has formed<\/a>.<b><i><\/i><\/b><\/p>\n<p>A hammer is typically a bullish reversal signal, happening as Bitcoin is well above its former all-time high from the last cycle. Where support held is not simply chosen by chance, but is the golden ratio of 1.618.<\/p>\n<p style=\"text-align: center\"><b><i>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-btc-massively-undervalued\/\">Fundamentals Suggest Cryptocurrency Is Massively Undervalued<\/a><\/i><\/b><\/p>\n<p>Comparing past bull cycles, Bitcoin almost has always held at the golden ratio of 1.618 and formed a hammer before heading off to <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-to-surpass-120000\/\">new all-time highs<\/a>.<\/p>\n<p>With bull cycles lengthening by one full month following each hammer reversal in the past, it suggests that Bitcoin could have another six months of bull run left.<\/p>\n<p>It also could mean that the top cryptocurrency will eventually reach the high prices that have been predicted, and this most recent downtrend was nothing more than a violent shakeout.<\/p>\n<p><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/tonyspilotroBTC\" rel=\"nofollow\"><b><i>@TonySpilotroBTC on Twitter<\/i><\/b><\/a><b><i> or via <\/i><\/b><a href=\"https:\/\/t.me\/TonyTradesBTC\" rel=\"nofollow\"><b><i>the TonyTradesBTC Telegram<\/i><\/b><\/a><b><i>. Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n<pre>Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is attempting to get back above $40,000, and with that milestone out of the way, $50,000 and $60,000 next stand in the way between it and another new all-time high. Although things have taken a bearish turn over the last quarter, the next two quarters in Bitcoin could end up being the most profitable yet, if a recurring theme involving a hammer reversal and the golden ratio results in a similar conclusion. Here&#8217;s a closer look at the chart and what it could suggest happens from here across the crypto market. The Recurring Hammer Reversal With Golden Results Bitcoin is at a very unusual point it its market cycle. The bull run that everyone expected to take the leading cryptocurrency by market cap to prices well over $100,000 per coin has already potentially fizzled out. Or at least that is how it looks to most observers. Related Reading | Five Bullish Monthly Charts That Suggest BTC Will Blast Off By most standards, a 20% crash in equities would cause a &#8220;bear market&#8221; by definition. In crypto, the entire thing can collapse by more than 70% and still somehow be bullish. And that&#8217;s exactly what might have happened recently, as the Bitcoin price chart now depicts a recurring bullish signal that has provided &#8220;golden&#8221; results. If cycles are extending, there could be six more months of bull market\u00a0| Source: BLX on TradingView.com Bitcoin Bull Market Could Extend Another 6 Months From Here The chart above shows Bitcoin price over the last decade, along with each of the three major boom and bust cycles we&#8217;ve seen so far. The most recent took Bitcoin from $168 to nearly $20,000 at the peak. What is believed to be the current rally, has taken a pause at around $65,000 and sent the cryptocurrency reeling and crashing back to $30,000. The support level since held, and on the monthly timeframe a hammer Japanese candlestick has formed. A hammer is typically a bullish reversal signal, happening as Bitcoin is well above its former all-time high from the last cycle. Where support held is not simply chosen by chance, but is the golden ratio of 1.618. Related Reading | Fundamentals Suggest Cryptocurrency Is Massively Undervalued Comparing past bull cycles, Bitcoin almost has always held at the golden ratio of 1.618 and formed a hammer before heading off to new all-time highs. With bull cycles lengthening by one full month following each hammer reversal in the past, it suggests that Bitcoin could have another six months of bull run left. It also could mean that the top cryptocurrency will eventually reach the high prices that have been predicted, and this most recent downtrend was nothing more than a violent shakeout. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":468682,"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":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-468679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>How A Hammer &amp; The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin<\/title>\n<meta name=\"description\" content=\"Bitcoin price is attempting to get back above $40,000, and with that milestone out of the way, $50,000 and $60,000 next stand in the way between it and\" \/>\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\/hammer-golden-ratio-6-bullish-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How A Hammer &amp; 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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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