2024

Bitcoin

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On the hourly chart of <a href="https://x.com/ali_charts/status/1800454005099012554" rel="noopener noreferrer nofollow">Bitcoin,</a> the TD Sequential indicates a buy signal, suggesting that BTC may rise by one to four candlesticks. This is often used in technical analysis to spot possible asset price turning points.
The indicator, which was created by Tom DeMark, finds trend exhaustion points by examining a sequence of pricing bars. There are two phases to the indicator: the setup phase and the countdown <a href="https://u.today/shiba-inu-shib-support-shattered-next-price-level-revealed" rel="noopener noreferrer nofollow">phase</a>.&nbsp;
Nine price bars in a row, each closing higher (in a downtrend) or lower (in an uptrend), are needed for the setup phase. The countdown phase, which follows if this setup is successful, searches for a string of 13 bars that close lower (in a downtrend) or higher (in an uptrend) than the two bars that came before.&nbsp;
When a countdown is finished, it usually indicates that the trend has reached its limit and that a reversal is about to occur. The TD Sequential has flashed a buy signal on the hourly Bitcoin chart, potentially predicting a price reversal. A short-term break from the current downward trend may be provided by this signal, which points to a possible price increase over the next one to four hourly candlesticks.&nbsp;
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 The TD Sequential presents a buy signal on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> hourly chart, predicting a potential rebound of one to four candlesticks for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>! <a href="https://t.co/pnAMFHHbPe" rel="noopener noreferrer nofollow">pic.twitter.com/pnAMFHHbPe</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1800454005099012554?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
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The price of Bitcoin has recently dropped for a number of reasons. First, liquidation clusters have been a major factor. A cascading effect has been seen in the price decline due to large sell-offs and forced liquidations of leveraged positions. The downward pressure was exacerbated by large clusters of liquidations that sit at $72,000-$69,000 and $66,000.&nbsp;
Furthermore, departures from U.S. Bitcoin ETFs have contributed to the price action of BTC we are seeing now. These ETFs experienced a net outflow of $64 million on a recent Monday, breaking a 19-day run of inflows. The price of Bitcoin has been further pressured by this change in investor sentiment from one of accumulation to selling.

Buy Signal Appears on Hourly Bitcoin (BTC) Chart

U_Today

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