Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoin-surge-despite-crash" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Despite Crash</a><br></p>
<p style="text-align: justify">Cryptocurrencies took a significant hit today, with major altcoins, including <a href="https://en.bitcoinhaber.net/bitcoin-price-and-market-dynamics-technical-analysis-insights" data-wpel-link="internal">Bitcoin</a>, experiencing substantial declines. Following the Federal Reserve’s recent interest rate announcement, <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a> deteriorated, leading to a continued drop in prices. Amid this turmoil, a prominent market analyst provided a more hopeful outlook, offering temporary solace to market observers.</p> 
<h2 id="what-does-the-td-sequential-indicator-show">What Does the TD Sequential Indicator Show?</h2> 
<p style="text-align: justify">Ali Martinez, a well-known analyst, suggested that a critical indicator might be signaling an upward trend for Bitcoin. Using the Tom DeMark (TD) Sequential indicator, Martinez pointed out on social media platform X that Bitcoin’s hourly chart is showing potential buy signals.</p> 
<p style="text-align: justify">The TD Sequential indicator is a tool used by traders to identify potential turning points in asset prices. Martinez highlighted that historical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data shows</a> Bitcoin often rebounds strongly in July following a negative June, with an average return of 7.98% and a median return of 9.60% during this month.</p> 
<h2 id="is-bitcoin-s-decline-over">Is Bitcoin’s Decline Over?</h2> 
<p style="text-align: justify">Despite the optimistic indicators, Martinez warned that Bitcoin’s downturn might not be finished. He pointed to the relatively low liquidation of $280.9 million in long positions and $25.4 million in short positions as evidence that the market has not seen the end of its decline. He noted that previous liquidation events have exceeded $1 billion, suggesting that either the decline isn’t over or short positions are about to vanish.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways For Investors</h2> 
<ul> 
 <li>Monitor the TD Sequential indicator for potential buy signals.</li> 
 <li>Consider historical performance trends, especially Bitcoin’s tendency to rebound in July.</li> 
 <li>Be cautious of the low liquidation volumes, which may indicate further market declines.</li> 
</ul> 
<h2 id="current-market-snapshot">Current Market Snapshot</h2> 
<p style="text-align: justify">At the time of writing, Bitcoin is priced at $58,100, marking a 2.5% drop in the last 24 hours. Earlier this week, BTC had surpassed $63,000, indicating a more significant decline than expected. The market volume for BTC decreased to $1.147 trillion, aligning with the overall market downturn. However, trading volume spiked by 43% to $40.111 billion, suggesting that investors might be panic selling due to the ongoing market slump.</p> 
<p style="text-align: justify">Factors such as governments offloading BTC and the news of Mt. Gox repaying creditors have also significantly impacted market dynamics. While the analyst remains hopeful, these factors could potentially lead to more pronounced market declines.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoin-surge-despite-crash" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Despite Crash</a></h5>

Analyst Predicts Bitcoin Surge Despite Crash

Table of Contents

BH NEWS

Other articles published on Jul 4, 2024

Cryptocurrency Market Crash: $90 Billion Erased From Global crypto Market Cap Within Hours!

Will BTC Price Crash Under $56K, $100K A Pipe Dream?

Bitget Wallet Amplifies Trading Features for TON, Introduces Cross-Chain Support for TON Tokens

Qubetics Whitelist to the Rescue as Polygon and Solana’s Troubles Make Investors Sweat

IOTA Foundation Launches I3-Lab at Imperial College London to Drive Circular Economy Innovation

KAMA Memecoin Surges 14X Amid Kamala Harris and Biden Political Tensions

Join our free newsletter for daily crypto updates!