{"id":419510,"date":"2020-03-30T16:00:00","date_gmt":"2020-03-30T16:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=419510"},"modified":"2020-03-30T15:14:00","modified_gmt":"2020-03-30T15:14:00","slug":"bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/","title":{"rendered":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800"},"content":{"rendered":"

Bitcoin price<\/a> has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month’s time.<\/p>\n

After such a collapse, the leading cryptocurrency by market cap has since bounced and is trading above $6,300 following a successful weekend defense of $5,800 \u2013 an important line that according to one crypto analyst says could determine the fate of Bitcoin’s long-term trend.<\/p>\n

Recapping The Rollercoaster Ride of 2020 So Far<\/h2>\n

Bitcoin price<\/a> has had a rollercoaster of a year thus far, and more so than the cryptocurrency is typically known for.<\/p>\n

While the asset class is notorious for its extreme volatility and violent price swings, not even cryptocurrency investors and traders were prepared for the massive price swings 2020 has provided thus far.<\/p>\n

Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin\u00a0<\/a><\/strong><\/em><\/p>\n

At the close of 2019, Bitcoin price found support at what the market had then thought was a bottom at $6,400. Starting in early 2020, the first-ever cryptocurrency went on an over 60% rally to well above $10,000.<\/p>\n

Ethereum<\/a> and other altcoins during this time also saw explosive rallies of 100% or more in many cases. All signs were pointing toward a new bull run for Bitcoin ahead of the upcoming halving.<\/p>\n

But then the unthinkable happened. A black swan event<\/a> arrived via a rapidly spreading pandemic, that caused Bitcoin price<\/a> to tank to $4,000 in a record-breaking decline.<\/p>\n

$5,800 is Bulls Last Stand Or Bitcoin Price Could Fall to New Lows<\/h2>\n

The particularly extreme move caused panic across the cryptocurrency market, and many long-term trendlines and growth curves were violated by the price action.<\/p>\n

However, Bitcoin price<\/a> was very quick to reclaim $5,800 \u2013 a key level that was just well defended over the weekend and ahead of the monthly close.<\/p>\n

Related Reading | Recent Bitcoin Price Action Isn\u2019t Radical According to Serious Valuation Models\u00a0<\/a><\/strong><\/em><\/p>\n

But why is $5,800 so important? According to one crypto analyst, $5,800 is the last stand for bulls, who must defend the level for Bitcoin’s long-term bullish trend to remain intact.<\/p>\n

https:\/\/twitter.com\/pentosh1\/status\/03848968?s=21<\/p>\n

$5,800 was the support level that Bitcoin fell to in February 2018, then again and again throughout the bear market. It also acted as a launchpad when Bitcoin broke above it the last time around in early 2019 and is currently holding once again even after this weekend’s violent selloff.<\/p>\n

Over the weekend, Bitcoin price<\/a> fell from $6,700 to as low as $5,800, but already bulls have managed to push the price of the first-ever cryptocurrency back above $6,000 and to $6,300 at the time of this writing.<\/p>\n

If bulls can continue to defend $5,800, the leading cryptocurrency by market cap will have set a higher low on the highest timeframes. But with the coronavirus still very much out of control, bears could eventually get the upper hand once again.<\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month’s time. After such a collapse, the leading cryptocurrency by market cap has since bounced and is trading above $6,300 following a successful weekend defense of $5,800 \u2013 an important line that according to one crypto analyst says could determine the fate of Bitcoin’s long-term trend. Recapping The Rollercoaster Ride of 2020 So Far Bitcoin price has had a rollercoaster of a year thus far, and more so than the cryptocurrency is typically known for. While the asset class is notorious for its extreme volatility and violent price swings, not even cryptocurrency investors and traders were prepared for the massive price swings 2020 has provided thus far. Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin\u00a0 At the close of 2019, Bitcoin price found support at what the market had then thought was a bottom at $6,400. Starting in early 2020, the first-ever cryptocurrency went on an over 60% rally to well above $10,000. Ethereum and other altcoins during this time also saw explosive rallies of 100% or more in many cases. All signs were pointing toward a new bull run for Bitcoin ahead of the upcoming halving. But then the unthinkable happened. A black swan event arrived via a rapidly spreading pandemic, that caused Bitcoin price to tank to $4,000 in a record-breaking decline. $5,800 is Bulls Last Stand Or Bitcoin Price Could Fall to New Lows The particularly extreme move caused panic across the cryptocurrency market, and many long-term trendlines and growth curves were violated by the price action. However, Bitcoin price was very quick to reclaim $5,800 \u2013 a key level that was just well defended over the weekend and ahead of the monthly close. Related Reading | Recent Bitcoin Price Action Isn\u2019t Radical According to Serious Valuation Models\u00a0 But why is $5,800 so important? According to one crypto analyst, $5,800 is the last stand for bulls, who must defend the level for Bitcoin’s long-term bullish trend to remain intact. https:\/\/twitter.com\/pentosh1\/status\/03848968?s=21 $5,800 was the support level that Bitcoin fell to in February 2018, then again and again throughout the bear market. It also acted as a launchpad when Bitcoin broke above it the last time around in early 2019 and is currently holding once again even after this weekend’s violent selloff. Over the weekend, Bitcoin price fell from $6,700 to as low as $5,800, but already bulls have managed to push the price of the first-ever cryptocurrency back above $6,000 and to $6,300 at the time of this writing. If bulls can continue to defend $5,800, the leading cryptocurrency by market cap will have set a higher low on the highest timeframes. But with the coronavirus still very much out of control, bears could eventually get the upper hand once again. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":419512,"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":[428,1144,6664,4220],"class_list":["post-419510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-trend"],"acf":[],"yoast_head":"\nBulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800<\/title>\n<meta name=\"description\" content=\"Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month's time. After such a\" \/>\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\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month's time. After such a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\" \/>\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=\"2020-03-30T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-30T15:14:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony "The Bull" Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony "The Bull" Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\"},\"author\":{\"name\":\"Tony \\\"The Bull\\\" Severino\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800\",\"datePublished\":\"2020-03-30T16:00:00+00:00\",\"dateModified\":\"2020-03-30T15:14:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\"},\"wordCount\":472,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707\",\"keywords\":[\"bitcoin\",\"btcusd\",\"crypto\",\"trend\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\",\"url\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\",\"name\":\"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707\",\"datePublished\":\"2020-03-30T16:00:00+00:00\",\"dateModified\":\"2020-03-30T15:14:00+00:00\",\"description\":\"Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month's time. After such a\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707\",\"width\":2560,\"height\":1707,\"caption\":\"bitcoin price bulls\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\",\"name\":\"Tony \\\"The Bull\\\" Severino\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"caption\":\"Tony \\\"The Bull\\\" Severino\"},\"description\":\"Tony \\\"The Bull\\\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. 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. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/uniquehot.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800","description":"Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month's time. After such a","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/","og_locale":"en_US","og_type":"article","og_title":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800","og_description":"Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month's time. After such a","og_url":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-03-30T16:00:00+00:00","article_modified_time":"2020-03-30T15:14:00+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg","type":"image\/jpeg"}],"author":"Tony \"The Bull\" Severino","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/tonythebullBTC","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Tony \"The Bull\" Severino","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/"},"author":{"name":"Tony \"The Bull\" Severino","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d"},"headline":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800","datePublished":"2020-03-30T16:00:00+00:00","dateModified":"2020-03-30T15:14:00+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/"},"wordCount":472,"commentCount":0,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707","keywords":["bitcoin","btcusd","crypto","trend"],"articleSection":["Bitcoin","Cryptocurrency Market News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/","url":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/","name":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707","datePublished":"2020-03-30T16:00:00+00:00","dateModified":"2020-03-30T15:14:00+00:00","description":"Bitcoin price has been more volatile than ever lately after the asset plummeted from $10,000 to under $4,000 in just over a month's time. After such a","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707","width":2560,"height":1707,"caption":"bitcoin price bulls"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d","name":"Tony \"The Bull\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"The Bull\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. 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. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bulls Last Stand: Why Bitcoin\u2019s Trend Depends on The Defense of $5,800","url":"http:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","crypto","trend"],"dateCreated":"2020-03-30T16:00:00Z","datePublished":"2020-03-30T16:00:00Z","dateModified":"2020-03-30T16:00:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bulls Last Stand: Why Bitcoin\\u2019s Trend Depends on The Defense of $5,800\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bulls-last-stand-why-bitcoins-trend-depends-on-the-defense-of-5800\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"crypto\",\"trend\"],\"dateCreated\":\"2020-03-30T16:00:00Z\",\"datePublished\":\"2020-03-30T16:00:00Z\",\"dateModified\":\"2020-03-30T16:00:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/03\/bitcoin-bulls-shutterstock_477805198-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/419510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=419510"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/419510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/419512"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=419510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=419510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=419510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}