Including Bitcoin Price: Technical Expert offers reasons why it no longer rise in BTC and Crypto
Technical Expert Tony Severino has recently announced why it has not risen in BTC and other crypto assets. Bitcoin price disadvantage. The analyst also increased the likelihood of the flagship crypto to fall to $ 22,000.
Expert reveals why it does not rise in the midst of Bitcoin price trip
One X postSeverino pointed to market cycles and Elliott wave theory to explain why he did not rise in BTC and other crypto assets. The accompanying graph stressed that the price of Bitcoin records 100% in both Wave 1 and Wave 5. This Taurus RunExtending to November 2022.
Expert, Wave 1 and Wave 5 typically recorded similar price gains show that it shows that it is in the upper part. However, the analyst said that the price of Bitcoin is likely to rise, because it can record a similar gain to Wave 3. Bitcoin Etfs It was launched last year.
Based on Elliot wave theory, at least two of the waves must have similar price gains, which provides the possibility that Wave 5 can copy the performance of Wave 3. However, Severino seems to bet against it because he emphasizes the euphoria around him. Donald Trump’s opening Another reason why the summit is possible is that it no longer rises on the price of bitcoin. He said the Euphoria stage always came just before the loop hill.
The technical expert admitted that it was not as much as he expected at the opening of Trump. However, he began to emphasize a pattern Cyclic hillsThis is another reason why BTC and other crypto assets no longer rise. Severino, wave 1 and wave 3 is on the top of the circular krestte said. Therefore, it makes sense that the wave 5 will be on the top of the cyclic crette.
Other indicators claiming that it is on the top of BTC
Tony Severino also stated other graphic models and indicators, which Bitcoin price He explained why he didn’t rise and why in BTC. He emphasized a curve trend line in another graph that shows that the flagship crypto reached a maximum financial opportunity point in this market cycle.
Technical Expert, Bitcoin Price’s paraboolic stage in this cycle stopped and reverse transformation may be close to the parabolic SAR (stop and reverse) indicators such as emphasizing indicators. Another indicator he expresses is the average -rowing index (ADX) shown by Severino. BTC’s rise train The power is weakening.
He confirmed that the upward momentum weakened for the price of Bitcoin and did not seem to come back soon. The expert emphasized the Logarithmic MACD as another indicator that proves that the flagship crypto in this market cycle decreases the momentum.
The prominent picture from Adobe Stock, graphics from tradingView.com
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