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Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Top Cryptocurrency Assets Trigger TD9 Sell On Weekly Price Charts

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
cryptocurrency bitcoin ethereum chainlink

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The cryptocurrency market has been on an upswing ever since Black Thursday cut the asset class down to its knees around mid-March. After several consecutive weeks of positive price action, the TD Sequential indicator has issued a “9” sell setup across Bitcoin, Ethereum, Chainlink, and other top performing crypto assets.

Total Cryptocurrency Market Cap Recovers 150% in 80 Days

Ever since the Black Friday market collapse brought Bitcoin back down to under $4,000 briefly and further crushed altcoins, the asset class of cryptocurrency has been steadily recovering.

Related Reading | Major Crypto Assets Are Preparing For Powerful Volatility Against Bitcoin 

Over the last 80 days, the total cryptocurrency market has grown 150% from lows and added over $160 billion in value.

total cryptocurrency market cap bitcoin ethereum chainlink altcoins crypto

Despite the growth, Bitcoin has failed to break above $10,000 and top cryptocurrency altcoins like Ethereum, Chainlink, Cardano, and others are nowhere close to returning to previous highs.

After such a steady string of positive price action, a selloff may cause these assets to fall short of a full recovery from that fateful day.

Bitcoin, Ethereum, Chainlink, And More Signal Sell on TD Sequential

The TD Sequential indicator has triggered a “9” sell setup on the weekly price charts across top cryptocurrency assets. This includes Bitcoin, Ethereum, Chainlink, Cardano, and many others.

This indicator, designed by market timing expert Thomas Demark, has been highly accurate over the last several years of cryptocurrency price action.

Take Ethereum’s weekly price chart, for example. In the image below, the 9 sell setup on the weekly timeframe marked the altcoin’s top in early 2018, just as the ICO boom began to fizzle out.

ethereum TD sequential bitcoin chainlink cryptocurrency crypto

After that powerful weekly candle close, Ethereum began a downtrend that took the asset’s valuation down by over 94% from peak to trough. And in less than one year.

The same signal proceeded Bitcoin’s recent peak in February 2020, just before Black Thursday occurred. Less than 30 days later, the asset had dropped by more than 63%.

Chainlink, the cryptocurrency market’s top performer triggered a 9 on the weekly just as it reached its all-time high at $5. From there, the volatility flash crashed the asset’s price down to nearly zero on some exchanges.

This indicator’s high level of accuracy is not a guarantee, and it doesn’t tell you at what price level or when to sell. With the signal appearing on the weekly price charts of many assets, a top forming this week becomes more probable.

Related Reading | This Cryptocurrency Shows Clear Technical Breakout of 800-Day Downtrend 

Before that top is in, however, there’s no telling how high these assets could run.

Using the aforementioned January 2018 Ethereum top example, the asset exploded another 25% and over $250 in value setting an all-time high record.

Selling just because the signal has triggered, isn’t the wisest choice. There are also instances where the 9 sell setup has appeared, but price action didn’t follow as expected.

However, given the indicator’s accuracy, it is worth getting prepared for a larger cryptocurrency market correction.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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