Crypto analyst Tony Severino has reported that the Bitcoin Percentage Price Oscillator (PPO) has turned red after reaching $102,000. He further discussed what this event means for the flagship Crypto with respect to the ongoing bull market. Crypto analyst Bitcoin Percentage Price Oscillator Tony Severino reports that the Bitcoin Percentage Price Oscillator (PPO) has turned red after hitting $102,000.
Bitcoin PPO Red Signals Bull RunÂ
After Bitcoin’s weekly PPO reached$102,000, Severino revealed in an X post that it turned red. Bitcoin Percentage Price Oscillator Before, the analyst had said that the weekly PPO turning red would signal the end of Bitcoin’s bull run. At the time, he cautioned that this indicator may soon indicate a top. The Crypto analyst shed light on the current market top by explaining that once the red ticks start.
The TD Sequential, which Severino also mentioned, is another sign that the Bitcoin peak might happen in this year’s first or second quarter. Quarterly candlesticks for BTCUSD are on an 8-count, he said. The analyst went on to say that the bull run of 2017 came to an end due to a perfected TD9 count. He discusses the implications of this shift for Bitcoin’s performance in the current bull market.
Severino Forecasts Bitcoin Peak
So, if the past is prologue, the Bitcoin price might reach its all-time high by July. Despite this, the analyst maintains that the top could occur as early as, pointing out that this peak typically occurs on the eighth candlestick in the sequence. Additionally, he mentioned that setups could not work, which could lead to the Bitcoin bull market continuing past.
Severino did warn, though, that a more substantial fall is likely in the cards before Bitcoin’s upward trend continues for more than a few quarters. Even as early as January 20, the Crypto analyst had already forecasted that Bitcoin’s price may go below $150,000. According to him, this cyclical high could be marked by a new paradigm that emerged after Donald Trump’s presidency.
Experts Predict Bullish Trend
Meanwhile, with the flagship cryptocurrency back above $100,000, Crypto specialists have speculated that the slump in Bitcoin might end. Titan of Crypto, a Crypto expert, predicted an impending Bitcoin markup in an X post. This was said while he said the 7-week consolidation for BTC might be coming to a close.
Bitcoin has reverted to a bullish trend, according to Crypto expert Mikybull Crypto. After Bitcoin’s price surged beyond $100,000, he said, the bears could not maintain their negative setup. The Crypto analyst speculated that the flagship cryptocurrency might be preparing for a long-term surge to a cycle peak now that it has recovered above this price level.
Summary
After reaching $102,000, Bitcoin’s Percentage Price Oscillator (PPO) turned red, signifying a possible bull run finish, according to Crypto analyst Tony Severino. It could be the top, with a decline before a longer-term increasing trend. Severino also mentioned the TD Sequential indicator, which shows a price top may follow historical patterns like the 2017 bull run. Bitcoin’s recovery above $100,000, according to Mikybull Crypto, indicates a bullish trend in Bitcoin Percentage Price Oscillator despite forecasts of a drop below $150,000.
