Tom Lee's analyst Mark Newton just pushed back on the "bull market is over" narrative. He argues that while MACD has turned negative due to consolidation, it's not a decisive signal without Elliott Wave confirmation of a sharp five-wave decline.
What's more telling: - Elliott Wave structure shows no topping pattern yet - Monthly DeMark signals haven't fired - Higher highs and lows maintained since 2022 lows - Market sentiment still far from typical cycle peaks
Basically, the technical setup isn't screaming "top" yet. Sideways action killing momentum is one thing—a confirmed reversal is another. Not saying we're mooning, just that the evidence for a peak is weak.
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Mark Newton: Crypto May Not Have Peaked Yet
Tom Lee's analyst Mark Newton just pushed back on the "bull market is over" narrative. He argues that while MACD has turned negative due to consolidation, it's not a decisive signal without Elliott Wave confirmation of a sharp five-wave decline.
What's more telling:
- Elliott Wave structure shows no topping pattern yet
- Monthly DeMark signals haven't fired
- Higher highs and lows maintained since 2022 lows
- Market sentiment still far from typical cycle peaks
Basically, the technical setup isn't screaming "top" yet. Sideways action killing momentum is one thing—a confirmed reversal is another. Not saying we're mooning, just that the evidence for a peak is weak.