Sell Signal Flashes
Crypto analyst Ali Martinez has identified a sell signal from the Tom DeMark (TD) Sequential indicator on Bitcoin’s daily chart. This indicator has a strong track record of predicting Bitcoin trends, suggesting a potential correction.
Historical Accuracy
Martinez notes that the TD Sequential indicator has accurately predicted Bitcoin’s price movements in the past. Since February 15, Bitcoin has declined by 1.5% to 4.7% each time the indicator signaled a sell.
20% Correction Possible
Another crypto expert, Crypto Jelle, also predicts a short-term pullback. He believes Bitcoin could experience a 20% price correction as it approaches its all-time high.
Market Sentiment
Some market observers view the recent Bitcoin retracement as a necessary correction and a positive sign for the long term.
Current Market Conditions
Bitcoin’s price is currently trading slightly above $66,000, down over 2% in the last 24 hours. Its trading volume is up by over 37%, while its market cap has decreased by 2%.
