On April 1st, 2019, after a brutal Bitcoin bear market that brought the cryptocurrency down by 80% and more, something changed: BTC saw “fireworks” as the price exploded 25% in a single day, marking one of the largest moves for the asset in its short but storied history.
At first, many laughed it off as pure manipulation, suggesting it was a false rally that would end in Bitcoin falling back to the bear market lows. But, in a now-famous tweet, cryptocurrency trader B.Biddles (handle @Thalamu_ on Twitter) remarked that the price action from late-2018 to the 25% gain formed a literal “textbook BARR bottom.”
$BTC. Literally a textbook BARR bottom. Hint: This means bears are fucked. pic.twitter.com/5ZUMGCXMIt
— b.biddles (@thalamu_) April 14, 2019
What exactly he was referring to was a bump-and-run-reversal — hence BARR bottom — bottom in the book “Encyclopedia of Chart Patterns.” This pattern is marked by a number of price trends: 1) a downtrend that leads into a massive, vertical sell-off; 2) a bottoming pattern that sees prices consolidate for as long as the aforementioned downtrend; 3) a rally past the downtrend line formed in 1); and 4) a throwback to the trendline before a surge higher that leaves the bottom far behind.
B.Biddles’ analysis was proven right just weeks after he posted the above message, as Bitcoin began a rally that brought it as high as $14,000 just two months after his analysis.
As unorthodox as this pattern may seem, Bitcoin’s recent price action is forming the exact same pattern. And that’s huge for the cryptocurrency.
Key Bitcoin Bottom Pattern is Forming Again
Just hours ago, the below chart was shared online by “BTC Time Traveler.” Attached to the chart was the same message B.Biddles wrote last year: “literally a textbook BARR bottom.”
It’s easy to see why he thinks that’s the case. The below chart, which shows Bitcoin’s price action from March 7th to today, has all the hallmarks of a BARR bottom: a downtrend that leads into a vertical crash, the consolidation at the bottom, a rally past the trendline formed in the first phase, and a throwback to the trendline to confirm it as support.
The only thing missing is the rally that will leave this bottom far behind.
Of course, there is no guarantee Bitcoin’s price action will follow this textbook pattern to a T yet again. But you know what they say: “History doesn’t repeat itself, but it often rhymes.”
Featured Image from Shutterstock origin »
Bitcoin is consolidating sideways in a $1,500-wide trading range since the beginning of May 2020. While observers anticipate the cryptocurrency to head lower, a fractal from 2019 shows a different picture.
Ethereum, despite what some readers may think, did not see a positive 2019. In fact, the cryptocurrency plummeted, actually registering a yearly loss in 2019, dramatically underperforming Bitcoin’s gains of nearly 100%.
XRP didn’t have a good 2019 by any means. The third-largest cryptocurrency, third to Bitcoin and Ethereum, actually fell by 50% against the dollar in 2019, dramatically underperforming Bitcoin’s 95% gain and a near-record run in the stock market and in real estate.
The correlation between Bitcoin and other altcoins was becoming evident in 2019, where Bitcoin reflected great promise in the first half, but underwent a period of stagnation in the second half.
SThe post Crypto investments in 2019 surpassed $600 million on Grayscale appeared first on AMBCrypto.
Bitcoin started its 2019 journey being priced at $3,600, following which the coin saw rising pressure from buyers in the market. This drove the price of BTC in the first half of 2019. However, the secThe post Bitcoin's 2019 volatility raises questions about asset's 'store of value' appeared first on AMBCrypto.
2019 was only really positive for a handful of digital assets, namely bitcoin. While it ended up 85%, it was the worst positive year on record which could be a sign that things are slowing. Bitcoin Under Performs in 2019 It may sound strange that an asset that made 85% in a year under-performed but that is exactly what happened to bitcoin in 2019.
Most of the commodities, stocks, and bonds staged an outstanding run in 2019. But the traditional asset classes still fell short before a stronger and a more offbeat contender: Bitcoin. The benchmark cryptocurrency, which more or less functions as a “decentralized” payment startup, underwent a dreamy bull run during 2019’s first and the second fiscal.
As 2019 approaches its end, many are sharing their views on what 2020 and the future of Bitcoin may look like. Fundstrat’s Head of Research, Tom Lee, seems to be very optimistic. The end of the year for crypto usually means the time when prices are surging, although this seemed more and more unlikely in 2019.
Bitcoin hasn’t had the best second half of 2019. In fact, since the end of June, the leading cryptocurrency has collapsed by 50%, now trading at $7,000 after establishing a year-to-date peak at $14,000.
Bitcoin Press Release: October 10th, 2019 will see the Bratislava Castle host the 2019 BLOCKWALKS European Conference. This year the conference looks at the many ways in which blockchain technology will improve Government Administrations, and the lives of its citizens.
There’s no question that the past several months have been a wild ride for Bitcoin and the aggregated crypto markets, with BTC surging from 2019 lows of roughly $3,400 to highs of $13,800, which has proven to be a strong level of resistance in the time since.
With half of 2019 already gone, here is a look at how the customary Bitcoin price forecasts have fared. First Half of 2019 for Bitcoin On the calendar, 2019 comes after 2018 but in crypto history, the year will undoubtedly be of far greater significance.
«Цена на биткоины вряд ли превысит 40 000 долларов в 2019 году», - заявил ведущий подкаста Bitcoin Knowledge Трейс Майер в рамках нового анализа 24 июня.
Jehan Chu of Kenetic lays out three reasons why Bitcoin price will reach a new all-time high (ATH) of $30,000 before the end of 2019. Three Reasons For a New ATH in 2019 Speaking to Bloomberg TV on Tuesday (May 28, 2019), the Kenetic co-founder highlighted three important factors that will drive Bitcoin to a new ATH.
With the Bitcoin price surging since 2019 started and especially in April and May, the term “Bitcoin price” on Google Trends surged to the highest point in 2019 after hitting the lowest point at the end of March 2019.
Getting towards the end of the first half of 2019 and Bitcoin has outpaced the stock market by almost 10 times. 2019 Scorecard: Bitcoin 111%; Stock Market 12% Tweeting on Friday, Morgan Creek Digital CEO Anthony Pompliano noted that Bitcoin price is up by about 111 percent in 2019.
За выходные рынок подрос. После коррекции в большинстве монет сформировались ключевые разворотные точки, что выразилось в появлении на графиках новых локальных трендов. В связи с этим вырисовываются неплохие возможности для новой серии сделок при торговле от покупок.
В какой-то момент цена первой криптовалюты на бирже Bitfinex превышала $5000, это новый максимум 2019 года. Аналитик Аяш Джиндал уверен, что ситуация на рынке изменилась: нас ждет стадия роста. Утром 2 апреля среднерыночный курс Bitcoin поднялся до максимума 2019 г.
За выходные на криптовалютном рынке под воздействием технических факторов произошел небольшой рост в пределах от 2 до 4% по наиболее ликвидным инструментам. Основной индикатор рынка все выше подбирается к максимумам с начала текущего года.
2018 has been all about the bear market that saw Bitcoin crash 84 percent from its peak while altcoins registered serious losses as well. However, 2019 has seen the greens and showing positive signs.
С понедельника рынок подрос на 3%. После обновления минимумов состоялся резкий разворот в ряде цифровых активов, в результате чего сейчас показатель капитализации находится на уровне $131 млрд. , что соответствует значениям середины февраля.
The crypto winter has claimed yet another firm as Coinhive announced on February 26, 2019, that they would be discontinuing their services from March 8, 2019. Saying Goodbye Perhaps the most apparent after-effect of the crypto crash of 2018 was the near-immediate decline in the mining sector.
2018 was not an extraordinary year for bitcoin as the price of bitcoin stayed in a ruin the entire year beginning from about $20,000 toward the early part of 2018 to a low price of $3200 in January 2019.
Bitcoin’s tendency will change from bearish to bullish during 2019, at least that is what Thomas Lee, the famous Bitcoin bull who is the Head of Research at Fundstrat Global Advisors, is saying. According to him, the technical analysis of the company shows that the market will shift during 2019. Thomas Lee is not alone. […]
Since 2018 went on the way out, optimists have remarked that they expect for Bitcoin and the broader blockchain ecosystem to get some much-needed reprieve in 2019. Yet, a rally, recovery, or run of similar caliber still seems like a quixotic dream, as cryptocurrencies have failed to reverse a multi-month downturn.
На криптовалютном рынке снова продолжается боковик. Торги проходят спокойно, волатильность уменьшается, и в текущей ситуации логично до минимума снизить собственную активность и в большинстве инструментов выдерживать паузу вместе с рынком.
За выходные на фоне отсутствия значимых новостей, котировки в ряде инструментов были переставлены наверх крупным покупателем в течении 5-10 минут на 3-5%, после чего рынок так же быстро успокоился.
It seems that Chinese analysts are not bullish about Bitcoin (BTC). There are some experts that believe that in 2019 Bitcoin will keep falling. According to an article published by the local news site Beijing News, 2019 does not show obvious signs of rebound.
2019 Might be the Year of the Bitcoin ETF An exchange-traded Bitcoin fund, also known as a Bitcoin ETF, has always been one of the most ambitious goals in the cryptocurrency community. Additionally, the creation of a publicly-traded Bitcoin ETF would be a major accomplishment for the traditional financial sector, a market rife with investors […]
Ethereum (ETH) seems to have found a bottom against Bitcoin (BTC) according to the ETH/BTC weekly chart above. The price action has so far respected the long term trend line since before 2016.
The wealth managing firm believes that SEC will take all its time it can, instead of falling for the market euphoria, and extend the decision till March 2019.
The post Canaccord Genuity Releases Quarterly Report, Expects CBOE Bitcoin ETF by 2019 appeared first on CoinSpeaker.
The headlines today have been riddled with theory that points towards a number of issues with Bitcoin that are now leading experts to believe that Bitcoin can’t peak again this year. This means, many now expect that Bitcoin will continue to exist under a value of $10,000.
During an interview with CNBC Crypto Trader, Mati Greenspan, Senior Analyst at eToro, stated that it is unlikely to get a Bitcoin [BTC] ETF by the end of 2018. However, he is optimistic about an approval of Bitcoin [BTC] ETF in the first quarter of 2019. Mati said that the reason behind the statement is […]
Mt. Gox, the defunct and disgraced bitcoin exchange (at one time the biggest in the world) is preparing a final chapter in a long, sorted ordeal. Creditors have coalesced around a repayment scheme to make victims whole.
The leading crypto exchange lost its status in February 2014 and turned into a bankrupt because of the 744,000 Bitcoin theft. The creditors do not lose hope to get their money back. The petition to reclaim the lost funds was started in November 2017, but the first repayments are expected in summer 2019.
Экономист и трейдер Тур Демеестер заявил о том, что ждать роста биткоина в 2018 году не стоит, он может лишь упасть ещё больше перед ростом в 2019 году. По мнению эксперта, прошло слишком мало времени с тех пор, как биткоин с $250 вырос до $20000.
The latest chapter in the Mt. Gox saga reveals that creditors are looking to be paid in Bitcoin with the first payment expected no earlier than next summer after the approval of the rehabilitation plan.
Several cryptocurrency investors and analysts believe the first Bitcoin exchange-traded fund (ETF) will not hit the US markets until 2019, regardless of the involvement of VanEck and Cboe. Why is 2018 Unlikely? Last week, the US Securities and Exchange Commission (SEC) officially rejected the Bitcoin ETF proposal of the Winklevoss twins, who operate Gemini, a […]
The post Interview: Bitcoin ETF Approval Unlikely in 2018 but Maybe 2019 appeared first on CryptoSlate.
With some experts predicting that Bitcoin will go to $67,500 in 2019, and others saying that a “total collapse” of cryptocurrencies is a real possibility, we prefer to study the charts and form our own opinions
Pantera Capital, one of the first investment firms to focus solely on the cryptocurrency and blockchain sector, has announced a substantial lifetime return of over 10,000% in a recent announcement celebrating the fund’s 5-year anniversary.
Expectations for a “Santa rally” were dashed as prices of major coins traded sideways throughout the festive week. Spot crypto ETFs logged mixed performance while open interest continued to fall across major cryptos.
Although Bitcoin (BTC) remains range-bound – trading between the $90,000 and $100,000 price levels – some crypto analysts predict that a price correction may be on the horizon due to a bearish ‘head and shoulders’ pattern forming on the daily chart.
Due to yesterday’s crypto market rout, Ethereum (ETH) has now faced rejection at the key $4,000 resistance level for three times since March 2024. The second-largest cryptocurrency by reported market cap is now trading at the $3,400 level, down 6.
BNB price struggled to stay above the $600 zone. The price is consolidating gains and might aim for a fresh increase above the $605 level. BNB price started a downside correction from the $612 resistance zone.
