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Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
crypto

Chillingly Accurate Indicator Says Crypto Market Will Soon Target New Highs

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
Advertisement

The crypto market is like the wild west, with extreme price volatility across all major assets in the space due to the speculative nature of the asset class combined with the low liquidity environment. But it’s still ruled by normal market dynamics, and responds well to certain technical analysis indicators, chart patterns, and more.

One particular indicator that’s repeatedly shown chilling accuracy across all major assets, especially Bitcoin, is now signaling that one final pump may be in the cards before a sell signal triggers, representing a top and end to the current rally.

Bitcoin 3D Chart Readies TD 9 Sell Signal, But Higher High Needed For Perfected Setup

The TD Sequential indicator has been a popular topic on NewsBTC lately, with many assets triggering the signal, and then markets responding as the tool predicted.

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The tool recently called Bitcoin’s recent local high, absolutely nailed the top at $10,500 back in February and has made many other epic calls in the past.

Related Reading | Crypto Market Cycle: Data Shows Bitcoin On Pace For Post-Halving Bull Run 

The TD Sequential indicator called the all-time high peak perfectly, then again at Bitcoin’s current bear market $3,200 bottom. It’s not perfect, however, and recently signaled XRP was a buy on monthly timeframes, and the asset continues to suffer.

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But given the repeated accuracy and how it functions, it suggests that a higher high in the Bitcoin price charts is possible, perfecting the TD 9 sell setup.

The indicator works by numbering candles in a sequence. The sequence resets if a new high or low is set ahead of the setup perfecting at 9 or 13. A 9 setup is perfected only when the 8 or 9 candle is higher than the 7. The best setups come from when 9 is higher than the 8 candle also.

The 3-day Bitcoin price chart has just reached a 9, but the setup has yet to perfect. If Bitcoin reaches a higher high within the next 36 hours, the setup will be perfected and a reversal likely.

bitcoin price chart btcusd coinbase td9 3d

Real Crypto Rally Or Is This Just a Dead Cat Bounce Before Low Is Set

Following the record-breaking crypto market collapse last month due to the coronavirus outbreak impacting the economy and ushering in the first recession since 2008, Bitcoin and altcoins have made a strong recovery. But could the rally have legs, or is this just another dead cat bounce before a new low is put in.

Related Reading | Crypto Stablecoins Are Printing Almost As Fast As The Fed 

If Bitcoin and the rest of the crypto market reverses here, setting a lower high, the crypto asset class is at risk of setting not only a lower low on higher time frames but setting a deeper, final, bear market bottom.

Bitcoin’s halving is next month, and while the event has long been thought to be bullish, the black swan event that is the coronavirus has markets spiraling out of control in fear.

Given the accuracy of the sell signal, the economy only getting worse, chances of Bitcoin diving deeper is high. However, the devaluation of the dollar combined with the asset’s digital scarcity could save the crypto asset and cause its value to rise in the months ahead.

Featured image from Pixabay
Tags: cryptoTD Sequentialtechnical analysisThomas 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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