Bitcoin Paints Two Bearish Signals as Price Holds $13K; What’s Next?
Bitcoin Paints Two Bearish Signals as Price Holds $13K; What Is Next?
“A TD Sequential green”9″ (however, imperfect) on a daily time frame and a classic Doji candle at the exact same time. Typically, it’s followed by a decrease in price.”
The opinion rippled elsewhere as more dealers spoke in favor of a bearish reversal. Daytrader Nico, for instance, tweeted this Tuesday concerning the TD9 Sequence indicators from the recent history, confirming how every one of these followed a complete reversal from their previous trends.
Bitcoin is looking to confront a period of sell-off as its daily chart reveals the presence of two historically accurate bearish signs.
BTC/USD was trading at $13,135 at the time of this writing. The analyst expects it to drop to $12,500 at the next leg followed by a dip towards $14,000.
Bitcoin was in a strong upside trend before it confirmed the TD9 Sequential and Doji indicators on its daily chart. The cryptocurrency rallied by almost 35 percent as it broke above crucial resistance levels, the newest being $13,000. Nevertheless, the stated signs suggest that the rally is fizzling.