🔥🔥🔥 #bitcoin Surges Past $71,000, But TD Sequential Says ‘Sell’
The Tom Demark (TD) Sequential indicator recently signaled a sell for Bitcoin after breaching $71,000. As per analyst Ali Martinez's update on X, the TD Sequential on Bitcoin's 1-hour chart indicates a potential reversal.
The TD Sequential has two phases: setup and countdown. In the setup phase, consecutive candles of the same color are counted up to nine, signaling a potential reversal. Red candles traditionally suggest a buy signal, while green candles indicate a downturn.
Bitcoin's recent surge past $71,000 completed a TD Sequential setup phase, shown by green candles on Ali's chart. This suggests momentum may be waning, hinting at a potential reversal.
However, the Bitcoin Relative Strength Index (RSI), highlighted by CryptoQuant's Axel Adler Jr., presents a different view. The RSI, currently at 56%, aligns with the start of recent uptrends. Despite the TD Sequential signal, Bitcoin continues its ascent, surpassing $71,600.
Source - newsbtc.com
