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Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
bitcoin price td 9 sell signal sequential

Bitcoin Price Action Triggers Devastatingly Accurate Sell Signal

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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Just two short weeks after Bitcoin price set a record for one of its largest single-day collapses in the asset’s young history, the latest sequence of price action has led to a devastatingly accurate sell signal, that’s preceded some of the asset’s most dangerous drops.

Is the first-ever cryptocurrency preparing for more carnage in the days ahead? And why is this sell signal considered so accurate?

Bitcoin Price Triggers Sell Signal on TD Sequential Indicator

Bitcoin price has been more of a rollercoaster ride than usual as of late.

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The leading cryptocurrency by market cap started off the new year strong, rallying by over 50% and reclaiming highs above $10,000.

But the key level failed to incite a further FOMO-driven retail investor rally, putting the asset on the ropes and staggering. Not even weeks later, the panic over the rapidly spreading coronavirus pandemic spilled into the world of finance, causing a catastrophic selloff of all assets, including Bitcoin, gold, stocks, and more.

Related Reading | Bitcoin’s 85% Bounce Shows Crypto Is Fundamentally Alive and Well 

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The dangerous collapse took Bitcoin from $7,500 to under $4,000. But not even two weeks later, the crypto asset has nearly doubled from its low and is trading just under $7,000 once again.

After going from over $10,000 to under $4,000, then back to $7,000, what exactly is next for the first-ever cryptocurrency?

According to the TD Sequential indicator, Bitcoin price has triggered a sell signal on daily timeframes and has a high probability of dropping in the days following.

bitcoin price td 9 sell

TD 9 Sell Signal Triggered at $10K, Will Another Drop Follow?

Bitcoin price action has trigged a TD 9 sell signal on the TD Sequential indicator, created by financial market timing expert Thomas Demark.

Demark is the Founder and CEO of DeMark Analytics, LLC, and has designed a number of well-known technical analysis indicators, such as the Sequential, Combo, Setup, Setup Trend, Countdown, Range Expansion Index, D-Wave, TD Lines, Differential, and Camouflage.

TD Sequential has been used to accurately predict many of Bitcoin’s most famous tops and bottoms, including the December 2017 top, and 2018 bottom.

More recently, the TD 9 last triggered a sell signal in Bitcoin price on February 13, 2020. That date is the current high for the year thus far, and in the days following, Bitcoin price collapsed by over 60%. The tool also accurately predicted the end of the parabolic rally in altcoins Tezos, Chainlink, and Ethereum.

That same sell signal has just triggered again, suggesting that Bitcoin could be in for yet another catastrophic descent back toward local lows, or perhaps dropping lower to find a new bottom.

Related Reading | Historic Recurrence: Will Bitcoin Bottom At Its Previous All-Time High? 

Given the tool’s accuracy, Bitcoin’s correlation to the stock market, and today’s announcement of skyrocketing unemployment claims, many external factors are supporting a coming drop.

Tags: bitcoinbtcusdcryptotd 9 sell signalTD SequentialThomas Demark
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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 at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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