{"id":472915,"date":"2021-10-01T20:00:47","date_gmt":"2021-10-01T20:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=472915"},"modified":"2024-06-11T08:46:14","modified_gmt":"2024-06-11T08:46:14","slug":"bitcoin-price-10-percent","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-10-percent\/","title":{"rendered":"Bitcoin Price Blasts Off With 10% Move, But Is This The Start Of More?"},"content":{"rendered":"

Bitcoin price<\/a> in a flash is near $50,000 once again, after several retests of $40,000 rounded support holding strong. Extreme bearish sentiment due to Evergrande, a rising dollar, and more left the market in extreme fear, and expecting the worst.<\/p>\n

The sudden surge took Bitcoin price more than 10% intraday from wick to wick, but technicals could suggest it is the start of something more. But before bulls are in the clear, there is a lingering bearish counter-signal that needs to be invalidated before a bigger rally can materialize.<\/p>\n

\"BTCUSD_2021-10-01_10-36-32\"<\/p>\n

The top cryptocurrency made a surprise move this morning | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Bitcoin Rallies 10% Intraday From Wick To Wick<\/h2>\n
A fearful fractal resembling Black Thursday has appeared in Bitcoin price action, which also has certain hallmarks of Wyckoff re-distribution. At the same time, the leading cryptocurrency is holding at high timeframe resistance turned support, and could be breaking out of a bull flag<\/a>.<\/p>\n
The indecision is felt in the sentiment, which has led to a confused community at odds with one another, depending on which side of the trade they are on.<\/p>\n
Related Reading | Astro Crypto: Summer Bitcoin Slump Could Bring Bountiful Fall Harvest<\/a><\/i><\/b><\/i><\/b><\/p>\n
$47 million worth of short positions<\/a> were liquidated in what could have been a bull flag breakout, which has a target of closer to $80,000 per coin. Such a lofty target sounds shocking, but given the parabolic base-building<\/a> in Bitcoin, isn’t impossible.<\/p>\n
And it all could be beginning now, if a bearish divergence can be invalidated before it confirms.<\/p>\n
\"BTCUSD_2021-10-01_10-34-42\"<\/p>\n
Bulls must beware the bear div over the weekend | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Bearish Divergence Warns Of Possible Retest, But Depends On Bullish Momentum<\/h2>\n
The bearish divergence is on the daily RSI<\/a>, but if there is enough strength, Bitcoin price will blast through it and it will be invalided. However, eager bulls should be wary of another plunge down due to the signal, which could ultimately retest the bull flag breakout as resistance turned support.<\/p>\n
The bull scenario is possibly more likely due to other signals. The LMACD has crossed bullish<\/a>, and the daily RSI bounced off a descending trend line streaming from the top.<\/p>\n
Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided?<\/a><\/i><\/b><\/p>\n
Bitcoin price has also tapped the Parabolic SAR<\/a> on the daily timeframe, but volume has yet to arrive which could hint at a potential fake out or support the bearish divergence theory.<\/p>\n
What this all boils down to, is that anyone taking a position now would need to be cautious \u2013 at least until more clarity on direction is revealed. \u00a0Surpassing $53,000 on the daily timeframe should prime the top cryptocurrency for a pump toward the current ATH, which it might not stop at once it gets there.<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or via <\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a>. Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price in a flash is near $50,000 once again, after several retests of $40,000 rounded support holding strong. Extreme bearish sentiment due to Evergrande, a rising dollar, and more left the market in extreme fear, and expecting the worst. The sudden surge took Bitcoin price more than 10% intraday from wick to wick, but technicals could suggest it is the start of something more. But before bulls are in the clear, there is a lingering bearish counter-signal that needs to be invalidated before a bigger rally can materialize. The top cryptocurrency made a surprise move this morning | Source: BTCUSD on TradingView.com Bitcoin Rallies 10% Intraday From Wick To Wick A fearful fractal resembling Black Thursday has appeared in Bitcoin price action, which also has certain hallmarks of Wyckoff re-distribution. At the same time, the leading cryptocurrency is holding at high timeframe resistance turned support, and could be breaking out of a bull flag. The indecision is felt in the sentiment, which has led to a confused community at odds with one another, depending on which side of the trade they are on. Related Reading | Astro Crypto: Summer Bitcoin Slump Could Bring Bountiful Fall Harvest $47 million worth of short positions were liquidated in what could have been a bull flag breakout, which has a target of closer to $80,000 per coin. Such a lofty target sounds shocking, but given the parabolic base-building in Bitcoin, isn’t impossible. And it all could be beginning now, if a bearish divergence can be invalidated before it confirms. Bulls must beware the bear div over the weekend | Source: BTCUSD on TradingView.com Bearish Divergence Warns Of Possible Retest, But Depends On Bullish Momentum The bearish divergence is on the daily RSI, but if there is enough strength, Bitcoin price will blast through it and it will be invalided. However, eager bulls should be wary of another plunge down due to the signal, which could ultimately retest the bull flag breakout as resistance turned support. The bull scenario is possibly more likely due to other signals. The LMACD has crossed bullish, and the daily RSI bounced off a descending trend line streaming from the top. Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided? Bitcoin price has also tapped the Parabolic SAR on the daily timeframe, but volume has yet to arrive which could hint at a potential fake out or support the bearish divergence theory. What this all boils down to, is that anyone taking a position now would need to be cautious \u2013 at least until more clarity on direction is revealed. \u00a0Surpassing $53,000 on the daily timeframe should prime the top cryptocurrency for a pump toward the current ATH, which it might not stop at once it gets there. 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":472921,"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-472915","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 Price Blasts Off With 10% Move, But Is This The Start Of More?<\/title>\n<meta name=\"description\" content=\"Bitcoin price in a flash is near $50,000 once again, after several retests of $40,000 rounded support holding strong. 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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 Price Blasts Off With 10% Move, But Is This The Start Of More?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-10-percent\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-10-percent\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/bitcoin-price-iStock-1314199360.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/bitcoin-price-iStock-1314199360.jpeg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","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","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-10-01T20:00:47Z","datePublished":"2021-10-01T20:00:47Z","dateModified":"2024-06-11T08:46:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Blasts Off With 10% Move, But Is This The Start Of More?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-10-percent\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-10-percent\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/bitcoin-price-iStock-1314199360.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/bitcoin-price-iStock-1314199360.jpeg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-10-01T20:00:47Z\",\"datePublished\":\"2021-10-01T20:00:47Z\",\"dateModified\":\"2024-06-11T08:46:14Z\"}<\/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\/10\/bitcoin-price-iStock-1314199360.jpeg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/472915","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=472915"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/472915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/472921"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=472915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=472915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=472915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}