Bitcoin

<p>Bitcoin rose to $29k yesterday for the first time in two months, after which it went on to $30k. Since then, there have been speculations that the price would continue to fire up and could even trigger the much-awaited bull run. However, top analyst Ali Charts is seeing things differently. According to him, the TD Sequential Indicator is showing a sell signal and a possible correction below $29k.</p>
<h2 class="wp-block-heading" id="what-is-the-td-sequential-indicator">What is the TD Sequential Indicator?</h2>
<p>The TD Sequential is a technical indicator used to identify buying and selling opportunities in the market. It was created by market technician Tom DeMark and aims to identify exhaustion points when a trend is likely to reverse.</p>
<p>The indicator uses a series of numbered candlesticks to identify potential reversal points. When it spots 9 or 13 consecutive candlesticks closing above or below the previous candle’s close, it signals a likely trend reversal.</p>
<h2 class="wp-block-heading" id="ali-charts-analysis">Ali Charts’ Analysis</h2>
<p><a href="https://twitter.com/ali_charts/status/1715394562531696734?t=XhvSCR9Wxh1PwUqea2O9kA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">According</a> to Ali Charts, the 4-hour Bitcoin chart is presenting a sell signal on the TD Sequential Indicator. This indicates that Bitcoin’s uptrend may be exhausted and is at risk of a correction.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="726" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-1024x726.png" alt="" class="wp-image-360862" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-1024x726.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-300x213.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-767x544.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-1536x1089.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-2048x1452.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-494x350.png 494w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552-788x558.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-552.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Specifically, Ali sees Bitcoin potentially dropping to around $28,800 if the sell signal is validated. This would represent a drop of nearly 5% from current levels.</p>
<p>While the TD Sequential is not a definitive reversal signal, it does warn that the trend is getting overextended and may be due for a pullback. If Bitcoin’s price confirms the signal with a decisive break below $29k, a more significant correction could ensue.</p>
<p>Ali Charts recommends being cautious and watching for a reversal to $28,800 to confirm the next support based on the signal on the TD Sequential. For now, the bulls remain in control above $29k, but the indicator presents a warning of potential exhaustion ahead.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/this-bitcoin-indicator-presents-a-sell-signal-and-could-trigger-a-correction-btc-expert/">This Bitcoin Indicator Presents a ‘Sell Signal’ and Could Trigger a Correction – BTC Expert</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

This Bitcoin Indicator Presents a ‘Sell Signal’ and Could Trigger a Correction – BTC Expert

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