Renowned chart analyst ALi Chart has raised concerns for short-term traders as the TD Sequential indicator signals a sell on Bitcoin’s 12-hour chart. This warning comes after a consistent trend observed since early February, where every sell signal from the indicator has been followed by a price drop ranging from 1.6% to 3.5%.
Bitcoin is headed for a dip
In recent market research, the ALI chart uses the TD sequence indicator, which is a popular tool among traders to identify potential changes in trends, which currently flashes a sell signal at 12 hours BTC system.
Meanwhile, this could be an important signal for short-term traders, as historical data from early February shows that whenever this signal signals a sell-off, the bitcoin price has dropped between 1.6% and 3.5%.
Whenever the TD Sequential indicator marked a “9” or “13,” indicating overbought conditions and the possibility of a price reversal, he saw a sharp decline in the next price action
BTC is facing a 20% fall
In line with Martinez’s prediction, another expert, Crypto Jelle, also predicts a short-term pullback for BTC, specifically predicting a 20% price correction as BTC surpasses its all-time high of $69,000 and Jelle admits that they’ll “go down the… road.
Despite the caution, Jelle urges investors not to worry about the outcome but to make the most of the situation. He emphasized the importance of patience as a key attribute for success in the ever-evolving crypto space.
Bitcoin Price Action
Despite analyst-cautious sentiment, the price of Bitcoin is up 4% in the last 24 hours, hovering around $72,300. Trading volume had surged 78.70% and now stands at $51.87 billion.
This significant increase in trading activity indicates increased interest and momentum in the cryptocurrency market, making the timing of the sell signal more relevant for investors and traders
