Bitcoin

April

<div class="finbold"> 
 <p class="paragraph">After months of enthusiasm about a potential rally to unprecedented highs toward $100,000 or – according to some prominent investors – toward $300,000, building up in the wake of spot exchange-traded funds (ETFs) approval, a new record value near $73,000, and the halving event in April, Bitcoin (BTC) price movement turned relatively stagnant and even threatened a collapse in early May.</p> 
 <p class="paragraph">By the middle of the month – and particularly after the latest CPI report came out lower than was feared – the world’s premier cryptocurrency again took off, gaining nearly 5% in a week and surging from a low near $60,000 to a press time price of $66,357.</p> 
 <figure class="wp-block-image aligncenter">
  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/MEQoToKeNpkebUZTOYQpPTLoKBbfqzizTaM3iISoVVtQiovQdNIoNBiDZcx9WbPDid9Kyu265LHApw_i-_jVmMS509dT9rSFxxqCJGqKyxyrRzOMAnsmkiDEkbUZvvdYQ2-9OiTBJVJ1NohuF6Hp4yo" alt>
  <figcaption class="wp-element-caption">
   BTC 7-day price chart. Source: Finbold
  </figcaption>
 </figure> 
 <p class="paragraph">While many traders are hopeful the rally signals an end to the crypto market’s stagnant phase and a full return to the bull cycle, technical analysis (TA) analysis reveals that it may not be just smooth sailing ahead.</p> 
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 <h2 class="wp-block-heading" id="h-td-sequential-warns-of-<a rel=" dofollow" title="imminent" href="https://thebittimes.com/tag/imminent.html">imminent-btc-<a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a>"&gt;TD Sequential warns of <a rel="dofollow" title="imminent" href="https://thebittimes.com/tag/imminent.html">imminent</a> BTC <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a></h2> 
 <p class="paragraph">Shortly after the most recent Bitcoin rally gained steam, Ali Martinez, a prominent crypto analyst, shared in X that the world’s premier cryptocurrency may be facing an <a rel="dofollow" title="imminent" href="https://thebittimes.com/tag/imminent.html">imminent</a> <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a>.</p> 
 <p class="paragraph">TD Sequential, a common technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> tool designed to detect the timing of a trend reversal of confirmation by analyzing an asset’s earlier performance over a set time frame, issued a strong sell signal on Bitcoin’s 4-hour chart, per the expert.</p> 
 <figure class="wp-block-image aligncenter">
  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/U7jiS5nKm61poq0aMnxXIacyyzlkl31sKx1iQTIkBMixunu6ZVAyZrY7GCVhNgXglF7bnkmpVnK5P1g0BVqBVqsN6CEiGXBdolvzwCs14YDhiWD00K6-zZHqf-MsfzSTdKGtufXEVSwT1jUlbBBxnHo" alt>
  <figcaption class="wp-element-caption">
   BTC candlestick chart with TD Sequential applied. Source: @ali_charts
  </figcaption>
 </figure> 
 <p class="paragraph">Martinez also added that the <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a> is likely to unfold over between one and four candlesticks.</p> 
 <h2 class="wp-block-heading" id="h-bitcoin-price-chart">Bitcoin price chart</h2> 
 <p class="paragraph">Though technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> may indicate a price drop, Bitcoin has, in the recent past, experienced a significant surge.&nbsp;</p> 
 <p class="paragraph">Indeed, after undergoing a period of consolidation and heightened volatility paired with mostly sideways trading, the coin has reentered the rally that has seen it rise 54.46% since the start of 2024.</p> 
 <figure class="wp-block-image aligncenter">
  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/42ObfDiphjZgGOaEYT8BlY82NLAvp3-WEGgZAP7kkb12IyFxbVTkzcFrMH38HJk1rHHvxJO6dtDQCNyAxGsHwqZT2MIP_iUbeNW0rM0sujKW3taSyDJljuw9sh-ZxnRytEYY9F0c0_O2wDYQeDVGchM" alt>
  <figcaption class="wp-element-caption">
   BTC YTD price chart. Source: Finbold
  </figcaption>
 </figure> 
 <p class="paragraph">Though BTC is yet to reclaim the highs reached in March, the most recent surge has enabled the cryptocurrency to erase the losses of early May, and Bitcoin is – having risen 5.73% in the 30-day chart – very close to its highs from April 22.</p> 
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/sell-alert-bitcoin-faces-imminent-correction-tbt88619.html">https://thebittimes.com/sell-alert-bitcoin-faces-imminent-correction-tbt88619.html</a></p>

Sell Alert: Bitcoin faces imminent correction

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TheBitTimes

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