Bitcoin

Let’s break down the <a href="https://x.com/ali_charts/status/1703433529244242360?s=20" target="_blank" rel="noopener noreferrer nofollow">insightful analysis</a> provided by Ali (@ali_charts), a top-notch analyst and well-known trader in the cryptocurrency space. 
<h3 class="wp-block-heading" id="ali-s-analysis-on-bitcoin-s-3-day-chart">Ali’s Analysis on Bitcoin’s 3-Day Chart</h3> 
Ali points out that the 3-day chart for Bitcoin (#BTC) is showing a buy signal according to the TD Sequential indicator. This is a technical analysis tool used to identify the timing of market entries and exits. When this indicator flashes a buy signal, it often suggests that the asset is in a favorable position for a price increase. 
<h4 class="wp-block-heading">Price Targets</h4> 
Ali suggests that if buying pressure for Bitcoin increases, the price could potentially move towards the mid or upper boundary of its current trading channel. 
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Specifically, Ali targets the price levels of $28,000 and $31,000. These targets are based on technical patterns and are areas where traders might expect some level of resistance or profit-taking. 
<h3 class="wp-block-heading" id="what-is-the-td-risk-line">What is the TD Risk Line?</h3> 
The TD Risk Line is a crucial part of the TD Sequential indicator, serving as a key invalidation point. In simpler terms, it’s a price level that, if crossed, would negate the buy or sell signal given by the TD Sequential. 
For Bitcoin, Ali identifies this level as $24,500. If the price of Bitcoin falls below this point, the buy signal would be invalidated, and traders might consider it a sign to exit their positions or refrain from entering new ones. 
In summary, Ali’s analysis suggests a bullish outlook for Bitcoin with specific price targets, but also advises caution by keeping an eye on the TD Risk Line at $24,500. As always, it’s essential for traders to do their own research and consider various risk factors before making any investment decisions. 
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The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/bitcoin-flashes-buy-signal-according-to-this-indicator-as-btc-eyes-31k-next-but-theres-a-catch/">Bitcoin Flashes ‘Buy Signal’ According to This Indicator as BTC Eyes $31k Next – But There’s a Catch</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Bitcoin Flashes ‘Buy Signal’ According to This Indicator as BTC Eyes $31k Next – But There’s a Catch

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