• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Advertisement

Market Timing Wizard Behind TD Signal Warns Of Bitcoin Reversal

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin
0
Advertisement

Bitcoin is making headlines all across the world of finance as even high wealth investors are now scrambling to learn more about the top crypto asset and its potential as a store of value. As word spreads of not only the 500% ROI-generating 2020 rally but Bitcoin’s long-term price projections, the asset class has attracted experts from all walks of life.

New naysayers have come out to bash Plan B’s stock-to-flow model, while others discourage believers of the digital gold narrative that’s been building momentum. Adding to the current skepticism over the cryptocurrency’s recent advance, market timing wizard Thomas Demark claims the recent uptrend is “exhausted” and that could lead to a reversal. Here’s why this call is something crypto investors must be cautious about, but also why there’s still hope for the expert to be incorrect based on the tool he created himself.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Bitcoin Rally Attracts The World’s Best Analysts, New Wealthy Investors

Bitcoin is no longer an asset stuck in the dark shadows of the internet or the focus of retail investors only. The world of finance, Wall Street, and institutional investors are now paying attention, and the game has changed for the ultra scarce cryptocurrency.

Corporations now own nearly 1 million BTC of the tiny 21 million coin supply, and the trend where companies protect their treasuries using the asset has only just started.

RELATED READING | ALLIANZ CHIEF ECONOMIST WHO BOUGHT 2018 BOTTOM: I SOLD MY BITCOIN TODAY

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

There’s not even enough BTC for all the world’s millionaires to buy one whole coin, and now even billionaires are beginning to scoop them up as fast as they can.

It has caused an uptrend that resulted in a 500% ROI in 2020 – a year when money is an issue for all, and how to protect one’s wealth has become a critical concern.

Bitcoin’s limited supply and block reward mechanism ensures it fits this role well, and the world now realizes this. The asset just set a new price record, and in the past, once this happens the train leaves the station and the cryptocurrency doesn’t stop pumping until a new peak is in.

Even with all of this going on, market timing expert Thomas Demark thinks that the trend is “exhausted” and a reversal could soon follow.

Symobilik BTC chart

There is an aggressive TD 13 sell countdown on BTCUSD using TJ Demark's Symbolik | Source: BTCUSD on Symbolik.com

TD Sequential Thomas Demark Creator Warns Of Cryptocurrency Trend Exhaustion

Demark is the creator of the TD Sequential indicator that crypto traders have come to swear by. Using his son’s Symbolik technical analysis software pictured above, Demark sees a signal that has also appeared alongside “the precise December 18, 2017 high, the precise low day December 14, 2018, and then the precise June 26, 2019 high day.”

Demark also calls attention to an interesting mathematical measurement taken from June 26, 2019, high to the recent March 2020 Black Thursday low. Subtracting the 2020 swing low from the 2019 high, resulted in a $9,985 measured move. Doubling this number comes to a sum of $19,970. Adding $19,970 to the Black Thursday low takes the price per BTC exactly the 2020 high of $23,750.

math thomas demark fibs bitcoin

Could math and Fibonacci extensions predict the outcome of this rally? | Source: BTCUSD on TradingView.com

The high is also the 2 Fibonacci extension from the move from 2019 to 2020, which lines up with Demark’s math equation. The signal Demark is warning of, is the 13 “sell countdown” signal, which is a tell that a trend is becoming exhausted.

RELATED READING | BITCOIN ANALYST: “DEEP CORRECTION” COMING WITH DECEMBER 17 PIVOT POINT REACHED

Demark claims that the same signal appeared at the 2017 peak, the 2018 bottom, the 2019 high, and is now back. Other market timing experts such as the late WD Gann believed that markets typically topped and bottoms in December, which would also match Demark’s theory. Interestingly, Gann’s market timing tools back up Demark’s idea, with each major pivot point reached coinciding with time-based Fibonacci levels.

 

Thomas demark market timing gann bitcoin

Other market timing tools from Gann back up Demark's call for a pivot  | Source: BTCUSD on TradingView.com

Demark admits “it appears treacherous to take such a stance” on the powerfully trending asset, but believes in the signals from his “combined models.”

“Obviously, there is no certainty in the forecasting business and often it is prudent to await confirmation of the completion of a trend rather than making a bold prediction,” he added.

Demark concluded that although the signals are strong and have been effective in the past, he cannot rule out that the exhaustion signals will be ignored as more and more investors pile into the scarce digital asset.

bitcoin td sequential thomas demark monthly

But Bitcoin might totally ignore trend exhaustion and become even stronger  | Source: BTCUSD on TradingView.com

The final chart depicting the TD Sequential indicator Demark is known for, on monthly timeframes shows what happens when the signal is ignored.

Bitcoin is currently on a TD 9 sell on monthly timeframes, after what is essentially nine positive months of an uptrend. In the past, when Bitcoin triggered the nine on monthly timeframes, the asset’s bull market was just getting going.

When the 13 sell countdown arrived, by then it was too late and the asset was full parabolic, and FOMO carried the cryptocurrency to much larger heights immediately after.

Using the tool as a sell signal has long been effective during the bear market, but during a bull market, the results are remarkably different. How Bitcoin responds to Demark’s latest signal will either usher in a return to bear trends or confirm the trend is unstoppable for now.

Featured image from Deposit Photos, Charts from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

3 hours ago
Institutional Bitcoin Buying Is a Positive Sign, Suggests Matrixport

Institutional Bitcoin Buying Is A Positive Sign, Suggests Matrixport

1 day ago
Bitcoin BTC

Inflation May Be In A Lull, What Does That Mean For Bitcoin?

2 days ago
Bitcoin Lightning Network POS Clover

Major Adoption News For Bitcoin: POS Giant Clover Starts Lightning Trial

2 days ago
Bitcoin

These Metrics Hint At Massive Bitcoin ‘Buying Opportunity’, Says Analyst

3 days ago
Bitcoin Whale

Bitcoin Exchange Whale Ratio Surges, What Does It Mean?

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    9 hours ago
  • Hector Network launches its NFT marketplace on Fantom...

    9 hours ago
  • Fantom (FTM) launches ecosystem vault to finance dApp...

    9 hours ago
  • Esports Driving the Advancement of Cryptocurrency in Sports...

    23 hours ago
  • Connecting the dots on $PAW. Is Ryoshi back?

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.