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Top Cryptocurrency Assets Trigger TD9 Sell On Weekly Price Charts

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

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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.

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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.

Tags: bitcoinbtcusdBTCUSDTethbtcethusdETHUSDTLINKBTCLINKUSDlinkusdtTD Sequentialxbtusd
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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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