{"id":395770,"date":"2019-09-11T18:00:57","date_gmt":"2019-09-11T18:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=395770"},"modified":"2024-06-11T13:25:18","modified_gmt":"2024-06-11T13:25:18","slug":"bitcoin-price-downtrend-could-continue-as-indicators-begin-pointing-down","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-downtrend-could-continue-as-indicators-begin-pointing-down\/","title":{"rendered":"Bitcoin Price Downtrend Could Continue As Indicators Begin Pointing Down"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has been chopping back and forth, up and down, since this past June when its parabolic rally was stopped short of retesting its previous all-time high.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While bears have repeatedly failed to push Bitcoin price through critical support, the crypto asset has been clearly locked in a downtrend for the last three months. That downtrend could continue, according to crypto analysts who suggest that important indicators have begun to point downward and are signaling additional downside movement in the coming days.<\/span><\/p>\n<h2>Important Technical Indicators Suggest Bitcoin Price to Continue to Trend Downward<\/h2>\n<p class=\"p1\"><span class=\"s1\">Crypto analysts are torn over what type of pattern that Bitcoin price is trading inside, with some believing the price action is playing out inside a <a href=\"https:\/\/uniquehot.com\/2019\/08\/01\/bitcoin-price-forming-descending-triangle-market-showing-consumption-of-demand\/\">descending triangle<\/a> similar to the pattern played out during the 2018 bear market, while others are saying it&#8217;s a <a href=\"https:\/\/uniquehot.com\/2019\/05\/23\/crypto-analyst-bitcoin-price-forming-symmetrical-triangle-60-chance-of-continuation\/\">symmetrical triangle<\/a> or bull flag that could break upwards.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/10\/bitcoin-price-chart-gives-hidden-bearish-signal-on-daily\/\">Bitcoin Price Chart Gives Hidden Bearish Signal on Daily\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The one thing they all mostly have in common is the notion that many important indicators have started to turn downward, suggesting that Bitcoin price could continue to drop in the days ahead, regardless of the pattern itself.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> 4hr UPDATE<\/p>\n<p>I saw some falling wedges and inverse head &amp; shoulders at other TA&#39;s today but I think they will fail both. We are in a downtrend so better stay short. Nearly all indicators pointing downwards. 3D RSI crossing down 50 first time in a while. <a href=\"https:\/\/t.co\/lTuYmOzBM6\" rel=\"nofollow\">pic.twitter.com\/lTuYmOzBM6<\/a><\/p>\n<p>&mdash; Crypto Walker (@cryptoWalk3r) <a href=\"https:\/\/twitter.com\/cryptoWalk3r\/status\/73681664?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 11, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">One crypto analyst says that the 3D RSI &#8211; the relative strength index \u2013 and other key indicators have begun to turn downward, which means that the current downtrend is likely to continue lower.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The relative strength index measures the intensity of the buying or selling accompanying a price movement, and the indicator falling below 50 is a bearish signal.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Another crypto analyst points to the MACD \u2013 the <a href=\"https:\/\/en.wikipedia.org\/wiki\/MACD\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">moving average convergence divergence<\/a> indicator \u2013 on the weekly timeframe signaling \u201cmore downside\u201d and the daily MACD beginning to roll over.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Daily MACD rolling over. Looks like an extended period of red on the histogram is due.<\/p>\n<p>Weekly MACD signaling more to the downside&#8230; <a href=\"https:\/\/t.co\/DBb356uuj5\" rel=\"nofollow\">pic.twitter.com\/DBb356uuj5<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/78938113?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 11, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The bullish momentum from the beginning of the year that helped take <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> out of the deepest depths of the bear market has all but fizzled out, and buyers are waiting for either a break above previous resistance at $14,000 to buy in, or are waiting for a deeper retracement to buy Bitcoin at lower prices.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Indicators may help predict changes or continuations of trends, but it\u2019s the patterns that analysts are torn on that can help determine price targets. If Bitcoin price is indeed locked in a <a href=\"https:\/\/uniquehot.com\/2019\/08\/01\/bitcoin-price-forming-descending-triangle-market-showing-consumption-of-demand\/\">descending triangle<\/a>, targets would be from $7,500 to as low as $5,800, however, unlikely that may seem<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/06\/bitcoin-price-bull-flag\/\">Bitcoin Price Could Break Up From Multi-Month Bull Flag<\/a>\u00a0<\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/uniquehot.com\/2019\/05\/23\/crypto-analyst-bitcoin-price-forming-symmetrical-triangle-60-chance-of-continuation\/\">Symmetrical triangles<\/a> can break up or down, and are typically considered continuation patterns. This would suggest a break to the upside, which would take Bitcoin price well above where the rejection in June took place, and propel the crypto asset to retest its previous all-time high at $20,000. The same heights are possible if the pattern ends up being <a href=\"https:\/\/uniquehot.com\/2019\/09\/06\/bitcoin-price-bull-flag\/\">a bull flag that breaks up<\/a>. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Even a breakdown is expected to be bought up quickly, as the current bull run is among the most powerful bull markets in Bitcoin\u2019s history, and will likely eclipse the previous crypto hype bubble.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has been chopping back and forth, up and down, since this past June when its parabolic rally was stopped short of retesting its previous all-time high. While bears have repeatedly failed to push Bitcoin price through critical support, the crypto asset has been clearly locked in a downtrend for the last three months. That downtrend could continue, according to crypto analysts who suggest that important indicators have begun to point downward and are signaling additional downside movement in the coming days. Important Technical Indicators Suggest Bitcoin Price to Continue to Trend Downward Crypto analysts are torn over what type of pattern that Bitcoin price is trading inside, with some believing the price action is playing out inside a descending triangle similar to the pattern played out during the 2018 bear market, while others are saying it&#8217;s a symmetrical triangle or bull flag that could break upwards. Related Reading | Bitcoin Price Chart Gives Hidden Bearish Signal on Daily\u00a0 The one thing they all mostly have in common is the notion that many important indicators have started to turn downward, suggesting that Bitcoin price could continue to drop in the days ahead, regardless of the pattern itself. $BTC 4hr UPDATE I saw some falling wedges and inverse head &amp; shoulders at other TA&#39;s today but I think they will fail both. We are in a downtrend so better stay short. Nearly all indicators pointing downwards. 3D RSI crossing down 50 first time in a while. pic.twitter.com\/lTuYmOzBM6 &mdash; Crypto Walker (@cryptoWalk3r) September 11, 2019 One crypto analyst says that the 3D RSI &#8211; the relative strength index \u2013 and other key indicators have begun to turn downward, which means that the current downtrend is likely to continue lower. The relative strength index measures the intensity of the buying or selling accompanying a price movement, and the indicator falling below 50 is a bearish signal. Another crypto analyst points to the MACD \u2013 the moving average convergence divergence indicator \u2013 on the weekly timeframe signaling \u201cmore downside\u201d and the daily MACD beginning to roll over. Daily MACD rolling over. Looks like an extended period of red on the histogram is due. Weekly MACD signaling more to the downside&#8230; pic.twitter.com\/DBb356uuj5 &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) September 11, 2019 The bullish momentum from the beginning of the year that helped take Bitcoin price out of the deepest depths of the bear market has all but fizzled out, and buyers are waiting for either a break above previous resistance at $14,000 to buy in, or are waiting for a deeper retracement to buy Bitcoin at lower prices. Indicators may help predict changes or continuations of trends, but it\u2019s the patterns that analysts are torn on that can help determine price targets. If Bitcoin price is indeed locked in a descending triangle, targets would be from $7,500 to as low as $5,800, however, unlikely that may seem Related Reading | Bitcoin Price Could Break Up From Multi-Month Bull Flag\u00a0 Symmetrical triangles can break up or down, and are typically considered continuation patterns. This would suggest a break to the upside, which would take Bitcoin price well above where the rejection in June took place, and propel the crypto asset to retest its previous all-time high at $20,000. The same heights are possible if the pattern ends up being a bull flag that breaks up. Even a breakdown is expected to be bought up quickly, as the current bull run is among the most powerful bull markets in Bitcoin\u2019s history, and will likely eclipse the previous crypto hype bubble.<\/p>\n","protected":false},"author":517,"featured_media":395772,"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":[428,679,6664,24132,2849,16393],"class_list":["post-395770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-dave-the-wave","tag-macd","tag-relative-strength-index"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Downtrend Could Continue As Indicators Begin Pointing Down<\/title>\n<meta name=\"description\" content=\"Bitcoin price has been chopping back and forth, up and down, since this past June when its parabolic rally was stopped short of retesting its previous\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-price-downtrend-could-continue-as-indicators-begin-pointing-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Downtrend Could Continue As Indicators Begin Pointing Down\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price has been chopping back and forth, up and down, since this past June when its parabolic rally was stopped short of retesting its previous\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bitcoin-price-downtrend-could-continue-as-indicators-begin-pointing-down\/\" \/>\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=\"2019-09-11T18:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:25:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/bitcoin-price-crypto-shutterstock_1451799452.jpg?fit=4284%2C2856\" \/>\n\t<meta property=\"og:image:width\" content=\"4284\" \/>\n\t<meta property=\"og:image:height\" content=\"2856\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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. 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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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