Crypto assets have continued to face its own fair share of “lows” over the past few days as a result of it experiencing a lot of bearish movement in the crypto market.
According to more calculated observation, the presence of the “bears” are meant to push the market much lower due to the strong sell signal sprouting everywhere.
Why the signal is accurate
Source: TradingView
This can be further explained by the two red candles seen under the previous red from recent charts. Using the Tom Denmark sequence (TD Sequence), which is a formidable trading tactic for predicting crypto charts and trends, it has proven to be very accurate in its analysis as it has already correctly calculated the previous highs from December 2019 to February 2020 timeframe.
According to BTC-related news outlets, a handful of other chart tools such as the stochastic indicators, have successfully confirmed this bearish trend in the crypto market. The indicator has also made over 80% success in its analysis too.
Long term outlook of the crypto market
Long term analysis is always the bedrock of successful trading and despite the recent changes it’s experiencing now, the crypto market is still liable to face “bullish” moves in the nearest future and possibly further beyond.
Many financial experts and investors such as Arthur Hayes of Bitmex, have clearly stated that his long-term target still hints at $20,000 by the end of 2020. In a newsletter report earlier this month, he also explained that the current mitigation plans incorporated by the government to combat the impending recession can be seen as the main reason for his claim.
Another expert to confirm this theory was Galaxy Digital’s Mike Novogratz, who based his claims on the current situation where fiat money is recently debased. This can imminently cause a bullish trend in the crypto market as the year goes by.
