There was a significant decline in the cryptocurrency market today and many altcoins, especially Bitcoin, lost value. After the FED's interest rate decision, the market could not meet expectations and the declines continued. However, one of the leading names in the market made a hopeful, albeit temporary, comment.
Analyst's Evaluation of Bitcoin (BTC)
Ali Martinez, one of the well-known analysts, pointed out the TD Sequential indicator, which shows a sign of recovery in the price of Bitcoin (BTC). Martinez stated that buy signals may have appeared on BTC's hourly chart. The TD Sequential indicator is issuing a buy signal predicting a short-term recovery.
TD Sequential is known as an indicator that traders often use to determine asset turning points. Based on Bitcoin's past performances, Martinez emphasized that July was more productive for Bitcoin after the generally difficult June months.
Bitcoin Latest Status
Over the last 24 hours, Bitcoin fell 2.5% to $58,100. The fact that it reached the level of $ 63,000 on Monday shows the extent of the decline. The market value of BTC also fell and fell to $1.147 trillion. However, trading volume increased by 43% to $40.111 billion, which may indicate investors are short-selling in panic.
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I EXPLAIN IN DETAIL.
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