{"id":438705,"date":"2020-09-17T01:00:50","date_gmt":"2020-09-17T01:00:50","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=438705"},"modified":"2024-06-11T10:35:01","modified_gmt":"2024-06-11T10:35:01","slug":"bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/","title":{"rendered":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern"},"content":{"rendered":"<p><a href=\"https:\/\/shenyangcang.com\/2020\/09\/15\/bitcoin-jumps-5-but-11000-is-important\/\">Bitcoin price today blasted above $11,000<\/a>, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset successfully confirmed a bullish retest of $10,000 as resistance turned support.<\/p>\n<p>But at the same time, the future of finance may have also completed a bearish retest and throwback to confirm a bearish reversal pattern. Both directions can&#8217;t be right, so which is it? You be the judge.<\/p>\n<h2>Bitcoin Price Performance: A Head And Shoulders Above The Rest<\/h2>\n<p>Throughout most of 2020, Bitcoin and altcoins have been soaring together. But over the last 24 hours, something strange has happened, and the leading cryptocurrency has <a href=\"https:\/\/shenyangcang.com\/2020\/09\/16\/defi-darlings-chainlink-binance-coin-yearn-finance-plunge-10\/\">outperformed alts by a significant variance<\/a>.<\/p>\n<p><a href=\"https:\/\/shenyangcang.com\/2020\/09\/15\/how-one-line-in-bitcoin-dominance-is-standing-in-the-way-of-alt-season\/\">BTC dominance<\/a> is breaking out of a downtrend line after potentially holding above a key support level and is showing signs of bottoming on high timeframes. If that&#8217;s the case, altcoins could be in trouble.<\/p>\n<p>But although Bitcoin is currently looking bullish, <a href=\"https:\/\/shenyangcang.com\/2020\/09\/15\/bitcoin-jumps-5-but-11000-is-important\/\">rising more than $1,000 from local lows<\/a> and a critical retest of support turned resistance, price action may have slammed into a brick wall.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-438706 aligncenter\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-bearish-retest-daily-head-and-shoulders.png?fit=860%2C860\" alt=\"bitcoin bearish retest daily head and shoulders\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">BTCUSD Daily Head and Shoulders Chart Pattern &amp; Throwback | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>The potential top pattern \u2013 <a href=\"https:\/\/shenyangcang.com\/2019\/11\/27\/bitcoin-all-eyes-on-potential-inverse-head-and-shoulders-pattern-as-bulls-fight-back\/\">a head and shoulders<\/a> \u2013 that sent Bitcoin price back down to retest $10,000, just had its neckline retested. Thus far, although $11,000 has been holding, the neckline also hasn&#8217;t been penetrated and a rejection could be forming.<\/p>\n<p>Head and shoulders patterns, <a href=\"http:\/\/thepatternsite.com\/hst.html\" target=\"_blank\" rel=\"noopener nofollow\">according to expert Thomas Bulkowski<\/a>, often experience a throwback to the neckline to keep &#8220;trading interesting.&#8221; A head and shoulders pattern represents a tug of war between buyers and sellers, with sellers ultimately winning in the end.<\/p>\n<p>A throwback stops out late shorters and those two took set a stop loss at the neckline. However, like the example on Bulkowski&#8217;s website, throwback can plunge directly through the neckline before falling.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"686\" width=\"860\" decoding=\"async\" class=\"wp-image-438713 aligncenter\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/Screen-Shot-2020-09-16-at-1.13.40-PM.png?resize=860%2C686\" alt=\"bulkowski head and shoulders\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"http:\/\/thepatternsite.com\/hst.html\" target=\"_blank\" rel=\"noopener nofollow\">The Pattern Site<\/a><\/pre>\n<h2>Bearish Retest, Or Bullish Retest? The Two Sides To Technical Analysis<\/h2>\n<p>If the throwback to support turned resistance holds, the pattern could confirm with a deep drop downward through $10,000. Or will it?<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/shenyangcang.com\/2020\/09\/13\/bitcoin-reaches-144-weeks-from-all-time-high-why-this-number-matters\/\">Bitcoin Reaches 144 Weeks From All-Time High: Why This Number Matters<\/a><\/strong><\/em><\/p>\n<p>A throwback to retest support flipped resistance is a bearish retest. However, Bitcoin price may have also recently confirmed the same type of throwback and retest of the multi-year, <a href=\"https:\/\/shenyangcang.com\/2020\/09\/14\/has-bitcoin-confirmed-a-bullish-retest-of-meme-downtrend-line\/\">&#8220;meme&#8221; triangle downtrend line from all-time high<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-438707 aligncenter\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/btcusd-triangle.png?fit=860%2C860\" alt=\"bitcoin btcusd triangle\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">BTCUSD Weekly Symmetrical Triangle Chart Pattern &amp; Throwback | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>This line has acted as the defacto line to beat for bulls, and they did. Now they have to defend their win in order to march forward. The head and shoulders formed on daily timeframes, while the triangle is so large, its visible on weekly, monthly, and higher timeframes.<\/p>\n<p>In <a href=\"https:\/\/shenyangcang.com\/lessons\/technical-analysis\/\">technical analysis<\/a>, more weight is given to the highest timeframe chart patterns. That could suggest that this bullish retest of the triangle, far outpowers the significance of the head and shoulders retest on the daily.<\/p>\n<p>But while it is indeed true high timeframes dominate in TA, reversals are said to start on the lowest timeframes possible. If that&#8217;s the case, regardless of what the monthly, weekly, or lower says, it could come down to days, hours, and even minutes between a new bull market, or another bearish breakdown.<\/p>\n<p>Which type of retest will win? Bullish or bearish?<\/p>\n<pre>Featured image from DepositPhotos, Charts from TradingView and The Pattern Site<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset successfully confirmed a bullish retest of $10,000 as resistance turned support. But at the same time, the future of finance may have also completed a bearish retest and throwback to confirm a bearish reversal pattern. Both directions can&#8217;t be right, so which is it? You be the judge. Bitcoin Price Performance: A Head And Shoulders Above The Rest Throughout most of 2020, Bitcoin and altcoins have been soaring together. But over the last 24 hours, something strange has happened, and the leading cryptocurrency has outperformed alts by a significant variance. BTC dominance is breaking out of a downtrend line after potentially holding above a key support level and is showing signs of bottoming on high timeframes. If that&#8217;s the case, altcoins could be in trouble. But although Bitcoin is currently looking bullish, rising more than $1,000 from local lows and a critical retest of support turned resistance, price action may have slammed into a brick wall. BTCUSD Daily Head and Shoulders Chart Pattern &amp; Throwback | Source: TradingView The potential top pattern \u2013 a head and shoulders \u2013 that sent Bitcoin price back down to retest $10,000, just had its neckline retested. Thus far, although $11,000 has been holding, the neckline also hasn&#8217;t been penetrated and a rejection could be forming. Head and shoulders patterns, according to expert Thomas Bulkowski, often experience a throwback to the neckline to keep &#8220;trading interesting.&#8221; A head and shoulders pattern represents a tug of war between buyers and sellers, with sellers ultimately winning in the end. A throwback stops out late shorters and those two took set a stop loss at the neckline. However, like the example on Bulkowski&#8217;s website, throwback can plunge directly through the neckline before falling. Source: The Pattern Site Bearish Retest, Or Bullish Retest? The Two Sides To Technical Analysis If the throwback to support turned resistance holds, the pattern could confirm with a deep drop downward through $10,000. Or will it? Related Reading | Bitcoin Reaches 144 Weeks From All-Time High: Why This Number Matters A throwback to retest support flipped resistance is a bearish retest. However, Bitcoin price may have also recently confirmed the same type of throwback and retest of the multi-year, &#8220;meme&#8221; triangle downtrend line from all-time high. BTCUSD Weekly Symmetrical Triangle Chart Pattern &amp; Throwback | Source: TradingView This line has acted as the defacto line to beat for bulls, and they did. Now they have to defend their win in order to march forward. The head and shoulders formed on daily timeframes, while the triangle is so large, its visible on weekly, monthly, and higher timeframes. In technical analysis, more weight is given to the highest timeframe chart patterns. That could suggest that this bullish retest of the triangle, far outpowers the significance of the head and shoulders retest on the daily. But while it is indeed true high timeframes dominate in TA, reversals are said to start on the lowest timeframes possible. If that&#8217;s the case, regardless of what the monthly, weekly, or lower says, it could come down to days, hours, and even minutes between a new bull market, or another bearish breakdown. Which type of retest will win? Bullish or bearish? Featured image from DepositPhotos, Charts from TradingView and The Pattern Site<\/p>\n","protected":false},"author":517,"featured_media":438714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[134,428,679,1119,1144,78790,6664,43405,4524,76835],"class_list":["post-438705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-head-and-shoulders","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern<\/title>\n<meta name=\"description\" content=\"Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-17T01:00:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T10:35:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern\",\"datePublished\":\"2020-09-17T01:00:50+00:00\",\"dateModified\":\"2024-06-11T10:35:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\"},\"wordCount\":529,\"publisher\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707\",\"keywords\":[\"altcoin\",\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"BTCUSDT\",\"crypto\",\"head and shoulders\",\"xbt\",\"xbtusd\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\",\"Technical analysis\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\",\"url\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\",\"name\":\"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707\",\"datePublished\":\"2020-09-17T01:00:50+00:00\",\"dateModified\":\"2024-06-11T10:35:01+00:00\",\"description\":\"Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset\",\"breadcrumb\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage\",\"url\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707\",\"contentUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707\",\"width\":2560,\"height\":1707,\"caption\":\"Bull and bear, computer - market\/ finance\/ stock concept - 3D illustration\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/shenyangcang.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/shenyangcang.com\/#website\",\"url\":\"https:\/\/shenyangcang.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/shenyangcang.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/shenyangcang.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/shenyangcang.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\",\"name\":\"Tony \\\"El Toro\\\" Severino\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"caption\":\"Tony \\\"El Toro\\\" Severino\"},\"description\":\"Tony \\\"The Bull\\\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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:\/\/shenyangcang.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern","description":"Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern","og_description":"Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset","og_url":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-09-17T01:00:50+00:00","article_modified_time":"2024-06-11T10:35:01+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707","type":"image\/jpeg"}],"author":"Tony \"El Toro\" Severino","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/tonythebullBTC","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Tony \"El Toro\" Severino","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#article","isPartOf":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/"},"author":{"name":"Tony \"El Toro\" Severino","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d"},"headline":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern","datePublished":"2020-09-17T01:00:50+00:00","dateModified":"2024-06-11T10:35:01+00:00","mainEntityOfPage":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/"},"wordCount":529,"publisher":{"@id":"https:\/\/shenyangcang.com\/#organization"},"image":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707","keywords":["altcoin","bitcoin","bitcoin price","btc","btcusd","BTCUSDT","crypto","head and shoulders","xbt","xbtusd"],"articleSection":["Bitcoin","Cryptocurrency Market News","Technical analysis"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/shenyangcang.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/","url":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/","name":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern","isPartOf":{"@id":"https:\/\/shenyangcang.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage"},"image":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707","datePublished":"2020-09-17T01:00:50+00:00","dateModified":"2024-06-11T10:35:01+00:00","description":"Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset","breadcrumb":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#primaryimage","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707","contentUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707","width":2560,"height":1707,"caption":"Bull and bear, computer - market\/ finance\/ stock concept - 3D illustration"},{"@type":"BreadcrumbList","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/shenyangcang.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern"}]},{"@type":"WebSite","@id":"https:\/\/shenyangcang.com\/#website","url":"https:\/\/shenyangcang.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/shenyangcang.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/shenyangcang.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/shenyangcang.com\/#organization","name":"NewsBTC","url":"https:\/\/shenyangcang.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d","name":"Tony \"El Toro\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"El Toro\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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:\/\/shenyangcang.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern","url":"http:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","bitcoin","bitcoin price","btc","btcusd","btcusdt","crypto","head and shoulders","xbt","xbtusd"],"dateCreated":"2020-09-17T01:00:50Z","datePublished":"2020-09-17T01:00:50Z","dateModified":"2024-06-11T10:35:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-price-revisiting-11000-could-confirm-short-term-bearish-reversal-pattern\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"head and shoulders\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-09-17T01:00:50Z\",\"datePublished\":\"2020-09-17T01:00:50Z\",\"dateModified\":\"2024-06-11T10:35:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/09\/bitcoin-price-bull-bear-Depositphotos_344605494_xl-2015-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/438705"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=438705"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/438705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/438714"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=438705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=438705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=438705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}