CMT-Verified Analyst Reveals When To Buy Bitcoin As Heikin Ashi Candle Turns Bearish

Following the Bitcoin (BTC) terms summation supra $94,000, Tony Severino, a CMT-verified analyst, released a elaborate method investigation outlining a wide strategy for navigating the adjacent large move. As the Heikin Ashi monthly candle flashes bearish signals, the expert shares the perfect clip to bargain Bitcoin, informing investors of potential carnivore marketplace traps. 

Upper Bollinger Band Reveal Time To Buy Bitcoin

Severino has provided an in-depth introspection of the Bitcoin market, identifying precise conditions nether which investors and traders, including himself, mightiness see re-entering based connected cardinal marketplace indicators and terms action. The expert broke down a Bitcoin terms chart featuring monthly candlesticks, Bollinger Bands, and humanities comparisons.

The illustration highlights that successful precocious 2021, aft hitting its erstwhile ATH, Bitcoin touched the Upper Bollinger Band but failed to adjacent supra it. At the time, this determination was perceived arsenic a classical non-confirmation, which yet led to a crisp reversal and brutal carnivore market successful 2022. 

Fast guardant to today, Bitcoin is hovering supra $94,000, with the Upper Bollinger Band positioned astatine $108,000. According to Severino, simply reaching this Upper Bollinger Band level, arsenic it did successful 2021, is not capable crushed to bargain Bitcoin successful anticipation of a terms increase. Instead, the expert asserts that a afloat monthly adjacent supra $108,000 is needed to corroborate a breakout and continuation of the bullish trend.

Source: Tony Severino connected X

The expert besides disclosed that helium would see buying Bitcoin erstwhile it closes sufficiently supra this level. However, if the flagship cryptocurrency fails to adjacent supra the Upper Bollinger Band for a month, it could reflector the 2021 treble apical and fake breakout, perchance starring to different steep carnivore marketplace this cycle.  

Overall, Severino advises investors to intimately watch Bitcoin’s terms action astir this cardinal Bollinger Band. He stresses that superior preservation acold outweighs succumbing to the Fear Of Missing Out (FOMO). With elevated risks and rising volatility, the expert believes that clear confirmation signals are the lone mode to prosecute with the marketplace safely.  

BTC’s Heikin Ashi Candle Flips Bearish

While Severino confirms the perfect clip to bargain BTC, the expert besides announced that the Bitcoin Heikin Ashi candles person turned bearish. The expert shared a 12-week Heikin Ashi candlestick chart, which shows Bitcoin flashing aboriginal informing signs of a imaginable carnivore market.

The illustration highlights a captious infinitesimal wherever Bitcoin’s Heikin Ashi candle turned reddish for the archetypal clip since its erstwhile terms peaks successful 2014, 2018, and 2022. Historically, specified a awesome has marked the opening of prolonged carnivore markets and heavy terms corrections. 

Further strengthening the bearish outlook, Severino pointed retired that the Fisher Transform, a method indicator utilized to observe inclination reversals, is exhibiting a bearish crossover, with the greenish Fisher enactment dropping beneath the reddish Trigger line. In erstwhile cycles, whenever these 2 signals — the Heikin Ashi and Fisher Transform — aligned, Bitcoin experienced important declines that lasted for months, if not years.

BTC trading astatine $94,799 connected the 1D illustration | Source: BTCUSDT connected Tradingview.com

Featured representation from Pixabay, illustration from Tradingview.com