{"id":461282,"date":"2021-04-14T20:00:38","date_gmt":"2021-04-14T20:00:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=461282"},"modified":"2024-06-11T13:54:59","modified_gmt":"2024-06-11T13:54:59","slug":"bitcoin-coinbase-crypto-dollar-reversal","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-coinbase-crypto-dollar-reversal\/","title":{"rendered":"Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal"},"content":{"rendered":"

Today is the day everyone in crypto has been waiting for: popular Bitcoin exchange Coinbase has been publicly listed<\/a> on the stock market for the first time ever.<\/p>\n

The entire industry is buzzing, still euphoric from the months of nothing but green candles. However, the euphoria could be blinding market participants to the fact that the dollar could potentially be ready to reverse.<\/p>\n

Crypto Market Celebrates Coinbase Listing Day With New Bitcoin All-Time Highs<\/h2>\n

\u201cThe line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs,\u201d Buffett wrote in a shareholder letter from 2000. \u201cNothing sedates rationality like large doses of effortless money.\u201d<\/p>\n

Effortless money has been the theme of crypto<\/a> over the last year, during a time when money is hard to come by for so many suffering from the impact of the pandemic.<\/p>\n

Related Reading | Coinbase Listing Sends Binance Coin (BNB), Exchange Tokens Soaring<\/a><\/strong><\/em><\/p>\n

The crypto market Fear and Greed Index is at full-blown greed, which other Buffett quotes point out are a time to be fearful. But investors aren’t fearful at all.<\/p>\n

They’re rolling the dice on altcoins, throwing millions at NFTs<\/a>, and more with little concern about putting money away for the future \u2013 what Bitcoin was supposed to be about in the first place.<\/p>\n

All this exuberance has put blinders on most crypto investors who are unaware of a potential reversal brewing in the dollar that could over the next several days catch them off guard.<\/p>\n

\"bitcoin<\/p>\n

The TD 9 indicator has perfected a sell setup on an 8-count | Source: DXY on TradingView.com<\/a><\/pre>\n
How Exuberance Has Left Investors Blind To Potential Dollar Reversal<\/h2>\n
The Dollar Currency Index<\/a>, a weighted basked of top currencies trading against the dollar, is now higher than lows set earlier in the year, but it’s been dropping to retest former resistance turned support.<\/p>\n
Related Reading | The Bearish Bitcoin Chart Bulls Definitely Don\u2019t Want To See<\/a><\/strong><\/em><\/p>\n
On the way down, the DXY has perfected a sell setup on the TD Sequential indicator<\/a>. The indicator is at only an 8 count instead of the typically lethal 9, however, as signals on the other end have shown a perfected 8 works just fine.<\/p>\n
\"bitcoin<\/p>\n
Major dollar reversals have ended Bitcoin bull markets | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Looking at the bigger picture, Bitcoin bull markets have ended<\/a> when the dollar finally turns around, and after this retest of support, another leg up could be devastating to the crypto space.<\/p>\n
What’s worse, is that investors are too exuberant currently to ever see it coming. Institutions are here, Coinbase has went public, and the stock-to-flow model predicts $100,000 BTC or more \u2013 what could possibly go wrong?<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Today is the day everyone in crypto has been waiting for: popular Bitcoin exchange Coinbase has been publicly listed on the stock market for the first time ever. The entire industry is buzzing, still euphoric from the months of nothing but green candles. However, the euphoria could be blinding market participants to the fact that the dollar could potentially be ready to reverse. Crypto Market Celebrates Coinbase Listing Day With New Bitcoin All-Time Highs \u201cThe line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs,\u201d Buffett wrote in a shareholder letter from 2000. \u201cNothing sedates rationality like large doses of effortless money.\u201d Effortless money has been the theme of crypto over the last year, during a time when money is hard to come by for so many suffering from the impact of the pandemic. Related Reading | Coinbase Listing Sends Binance Coin (BNB), Exchange Tokens Soaring The crypto market Fear and Greed Index is at full-blown greed, which other Buffett quotes point out are a time to be fearful. But investors aren’t fearful at all. They’re rolling the dice on altcoins, throwing millions at NFTs, and more with little concern about putting money away for the future \u2013 what Bitcoin was supposed to be about in the first place. All this exuberance has put blinders on most crypto investors who are unaware of a potential reversal brewing in the dollar that could over the next several days catch them off guard. The TD 9 indicator has perfected a sell setup on an 8-count | Source: DXY on TradingView.com How Exuberance Has Left Investors Blind To Potential Dollar Reversal The Dollar Currency Index, a weighted basked of top currencies trading against the dollar, is now higher than lows set earlier in the year, but it’s been dropping to retest former resistance turned support. Related Reading | The Bearish Bitcoin Chart Bulls Definitely Don\u2019t Want To See On the way down, the DXY has perfected a sell setup on the TD Sequential indicator. The indicator is at only an 8 count instead of the typically lethal 9, however, as signals on the other end have shown a perfected 8 works just fine. Major dollar reversals have ended Bitcoin bull markets | Source: BTCUSD on TradingView.com Looking at the bigger picture, Bitcoin bull markets have ended when the dollar finally turns around, and after this retest of support, another leg up could be devastating to the crypto space. What’s worse, is that investors are too exuberant currently to ever see it coming. Institutions are here, Coinbase has went public, and the stock-to-flow model predicts $100,000 BTC or more \u2013 what could possibly go wrong? Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":461287,"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-461282","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":"\nBitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal<\/title>\n<meta name=\"description\" content=\"Today is the day everyone in crypto has been waiting for: popular Bitcoin exchange Coinbase has been publicly listed on the stock market for the first\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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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. 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":"Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal","url":"http:\/\/uniquehot.com\/news\/bitcoin-coinbase-crypto-dollar-reversal\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-coinbase-crypto-dollar-reversal\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/dollar-decline-bitcoin-shutterstock_675652909.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/dollar-decline-bitcoin-shutterstock_675652909.jpg?fit=1500%2C905"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-04-14T20:00:38Z","datePublished":"2021-04-14T20:00:38Z","dateModified":"2024-06-11T13:54:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-coinbase-crypto-dollar-reversal\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-coinbase-crypto-dollar-reversal\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/dollar-decline-bitcoin-shutterstock_675652909.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/dollar-decline-bitcoin-shutterstock_675652909.jpg?fit=1500%2C905\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-04-14T20:00:38Z\",\"datePublished\":\"2021-04-14T20:00:38Z\",\"dateModified\":\"2024-06-11T13:54:59Z\"}<\/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\/2021\/04\/dollar-decline-bitcoin-shutterstock_675652909.jpg?fit=1500%2C905","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/461282"}],"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=461282"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/461282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/461287"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=461282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=461282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=461282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}