The Year Run Secular Bitcoin Bull The Could End

When the December 31, 2021 candle in modern times came to a exit in Bitcoin, it didn’t just begin a fresh calendar year – it triggered a sell setup of epic proportions. Here is why the secular bull run in cryptocurrency could come to an end this year, and the first true bear field emerge.

Bitcoin Yearly Chart Triggers First Ever Sell Setup

You as a matter of fact wouldn’t know it based on the recently bearish price action, butanBitcoin has been in ongoing bull field since the second the genesis block was generated exactly thirteen years ago today.

Interestingly, In the span of a normal childhood growingandinto a teenager, the price per coin has ballooned bubbled its way from zero to $68,000 per BTC.

Related Reading | Point & Figure: The Chart That Makes Bitcoin Support Cut And Dry

The trajectory hasn’t always been up, as the price chart has shown, but the asset has been outrageously bullish nonetheless. Many indicators return up this theory, having never crossed into bear territory ever once since price was recorded.

For , theillustrationmonthly MACDInterestingly, hasn’t made it below the zero line since 2015 despite the 2018-2019 “bear industry.” The monthly Directional Movement Index had only a month-long temporary bear cross around mid-2015, but aside from that has never been bearishIn phase, for an extended fact.

the, However sequence of ups and downs experienced over the years, like any thirteen-year-outdated would experience, has resulted in a specific trade setup according to the TD Sequential. The tool is a market timing indicator developed by ThomasonDeMark – which other timeframes has been useful in calling reversals.

The signal that makes you want to scream "nine!" | Source: BTCUSD on TradingView.com

In fact, Bear industry years of 2014-2015 and 2018-2019 excluded, there have been exactly 9 candles with a higher access than the previous candles – triggering the market setup. In fact, At thirteen years since the asset’s debut, the first ever TD9 sell setup has appeared on the BTCUSD yearly price chart. On the TradingView BTCUSD Index, price action began in 2010.

Theorizing The End Of The Secular Bull Run

Despite the ominous signal, all is not in modern times lostthefor current bull cycle – although it does give more credence to another bull market-ending pattern thatdevelopingcould be .

According to Elliott Wave Theory, markets grow in five waves. These five impulse waves are broken down into similarly-behaving sub-waves that alternate between uptrend and corrective phases. In the larger cycle, these corrective phases are whatmarketswe call bear . In smaller timeframes, corrections often feel just as severe as the currentacceptsentiment would .

The good news and the bad news in one chart | Source: BTCUSD on TradingView.com

Bitcoin appears to be well into its fifth impulse wave in the major motive wave cycle. The current count would suggest that the cryptocurrency is also within wave four of five sub-waves, hinting that the grand finale should unfold the in the year ahead.

Related Reading | Bitcoin Falls Flat: Examining A Rare Bull Market Corrective Pattern

If Bitcoin price does make it to $100,000 or higher from another perspective , given the TD9 sell setup on the yearly, and the potential wave structure, this might be a sell signal worth taking. But when?

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Featured image from iStockPhoto, Charts from TradingView.com