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Home Technical analysis BTC

Sell Setup Combo On Bitcoin Coincides With Ominous Astrological Event

Tony Spilotro by Tony Spilotro
6 months ago
in BTC
Reading Time: 3min read
bitcoin td 9 13 mercury retrograde td sequential

Retrograde Mercury planet icon. Astrological sign on a black background with geometric ornament of golden color.

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Bitcoin price has fallen more than $400 from yesterday’s peak. The drop happened abruptly as the daily candle closed and turned to October 13th’s trading session.

The collapse also coincides with two sell setups triggering, and the start of an ominous astrological event that historically has created turmoil for both people in general, and also for Bitcoin. Here’s how this short-lived phase has impacted crypto in the past, and how the combination of sell setups triggering could set off a series of downward movements in the days ahead.

One-Two Crypto Combo: TD 9 & 13 Sell Setup Triggers On BTCUSD Daily

Bullish news that the Jack Dorsey-led Square, Inc. had added 4709 BTC to its corporate treasury reserves sent Bitcoin price flying $1,000 in just a handful of days.

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After such a sharp move up, the most dominant crypto asset in the space is already down $400 from yesterday’s high. As soon as the clock struck 8:00 PM ET and the new daily candle opened, a selloff took place.

Related Reading | Crypto Calculated: How Ancient Math Predicts Bitcoin’s Next Top At $270K

The new candle open also triggered not one but two sell setups on the TD Sequential indicator that traders clearly followed. The TD Sequential, as its name implies, provides buy or sell setups depending on if a specific sequence of candles has been followed.

btcusd td9

TD 9 & 13 Sell Setup Triggering As Mercury Retrograde Begins | Source: BTCUSD on TradingView.com

9 sell setups often suggest a reversal could follow and a top is in, while 13 countdowns indicate trend exhaustion.

Yesterday’s higher high on daily timeframes “perfected” the TD 9 sell setup and triggered the 13 setup as well. The fall thus far has already been so deep, that the 13 setup has fallen completely off the chart. But it triggered at the day’s open nonetheless.

Beware: Mercury Retrograde Begins As Bitcoin Starts To Fall

Coinciding with the TD 9 and 13 combo, the turn of the calendar also began an astrological event that in the past hasn’t been very good to Bitcoin, and is known for stirring the pot in a number of other ways.

This phase, highlighted in red above and below, is called Mercury Retrograde. It is said to be responsible for all kinds of chaos in the human world, such as miscommunication, misfortune, and more.

It also has been negative for Bitcoin all throughout the bear market, as shown below. Most Mercury Retrograde phases result in markets miscommunicating about what the price of the leading crypto asset should be, and valuations have fallen.

bitcoin mercury retrograde

Mercury Retrograde Historical Bitcoin Performance| Source: BTCUSD on TradingView.com

The last phase didn’t result in much downside, but prior to that was Black Thursday. Now, the last Mercury Retrograde phase of 2020 is here, and it ends exactly on the US election day of November 3rd, 2020.

Related Reading | Analyst: The Next Bitcoin Break Will Set The Stage For Weeks To Come

If this phase acts like the past, Bitcoin could see some serious downside. And with the start of Mercury Retrograde coinciding with these accurate sell signals and the upcoming election uncertainty, it could be a recipe for disaster.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: astrologybitcoinbtcbtcusdbtcusdcBTCUSDTcryptoMercury Retrogradexbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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