Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter?
23 Diciembre 2024 - 11:00AM
NEWSBTC
A crypto analyst has shared a TD Sequential chart indicating that
the Bitcoin price is flashing a major buy signal in the 4-hour time
frame. This signal suggests that Bitcoin’s bearish momentum could
be waning, making this a potentially critical moment to consider
entering the market. Bitcoin Price TD Sequential Flashes Buy Signal
A TD Sequential is a unique technical indicator that identifies
trend exhaustion and price reversals and indicates buy or sell
signals. According to an X (formerly Twitter) post by crypto
analyst Ali Martinez, Bitcoin’s 4-hour chart showcases a green “9”
candle, signaling a potential buying opportunity. Related
Reading: Dogecoin Price Above $10: Historical Data Shows How High
DOGE Will Go This Bull Cycle Typically, in a downtrend, the green 9
candle is interpreted as a buy signal, indicating that bearish
momentum might be reaching exhaustion and prices could be getting
ready for a rebound. Martinez also shows an ”A13” marker on the TD
Sequential chart, which represents a countdown phase that tracks 13
additional candles and identifies a stronger trend
exhaustion. During a downtrend, the appearance of a TD
Sequential A13 often signals a potential decline in a
cryptocurrency’s sell-off phase, reinforcing the possibility of a
price reversal. Bitcoin’s current buy signal emerged as its price
exceeded $94,000. This buy signal suggests an optimal time to enter
the market, with the $94,915 price point highlighted as a potential
entry for traders aiming to capitalize on a possible Bitcoin price
rebound. Although the TD Sequential is an indicator used to
identify buy and sell signals, market participants can exercise
caution by considering additional factors like volatility, broader
market sentiment, and more. If the current buy signal holds,
Martinez has predicted that a price rebound can be expected.
However, a failure to maintain its current price could lead to
further downsides, potentially pushing Bitcoin to its next critical
support level. BTC Market Top Set At $168,500 In another more
recent X post, Martinez presented a chart of Bitcoin’s price
movements, predicting a market top above $168,500 based on the
Mayer Multiple. The chart shows Bitcoin price performance based on
the Mayer Multiple, which compares BTC to the 200-day Moving
Average (MA). Related Reading: Bitcoin Price Above $100,000
Again? Why $99,800 Is An Important Resistance To Break The red
line, as seen on the chart, indicates the Mayer MultipLe (MM) at
2.4, while the green line showcases MM at 0.8. Additionally, the
blue line is the Oscillator, which tracks the Mayer Multiple over
time. Historically, the Bitcoin price tops have
coincided with the Mayer Multiple reaching the 2.4 level or higher.
Currently, Bitcoin’s Multiple Mayer sits at 1.3845 in the chart.
However, if its price continues to rise and the MM reaches 2.4
again, Martinez predicts a market top above $168,500 for
Bitcoin. As of writing, Bitcoin’s price is $94,692, meaning a surge
to $168,500 would require a significant 78% increase from its
present market value. Featured image created with Dall.E,
chart from Tradingview.com
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