{"id":10514,"date":"2024-10-20T10:00:29","date_gmt":"2024-10-20T10:00:29","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-price-holds-above-68000-but-td-sequential-sounds-sell-alarm\/"},"modified":"2024-10-20T10:00:29","modified_gmt":"2024-10-20T10:00:29","slug":"bitcoin-price-holds-above-68000-but-td-sequential-sounds-sell-alarm","status":"publish","type":"post","link":"https:\/\/cryptd.in\/bg\/bitcoin-price-holds-above-68000-but-td-sequential-sounds-sell-alarm\/","title":{"rendered":"Bitcoin Price Holds Above $68,000, But TD Sequential Sounds Sell Alarm"},"content":{"rendered":"

The Bitcoin price has not quite been able to replicate its midweek form over the weekend, hovering around the $68,000 level. Despite the quiet performance in the past day, the premier cryptocurrency has managed to hold its own above $68,000.<\/p>\n

However, a prominent crypto pundit on social media platform X has said that the price of BTC might not be able to hang on to this level<\/a> for too long. This has left several investors wondering if this potential correction is only a hiccup or a complete turnaround in the latest bull run resurgence.<\/p>\n

Analyst Says Bitcoin Price To Face Brief Correction \u2014 What Next?<\/h2>\n

In a recent post on the X platform, crypto analyst Ali Martinez put forward<\/a> an interesting prognosis for the price of Bitcoin, saying that the premier cryptocurrency might be set for a brief correction in the short term. According to the pundit, the \u201cTom Demark\u201d (TD) Sequential has flashed a sell signal for the BTC price on the daily chart.<\/p>\n

\u0421\u0430\u0439\u0442\u044a\u0442 TD Sequential<\/a> is an indicator in technical analysis used to identify potential points of trend exhaustion and price reversal. This technical analysis tool comprises two major phases; namely the TD Setup phase and the TD Countdown phase.<\/p>\n

Specifically, the Setup phase is made up of nine candles of the same polarity (bearish and bullish). In a bullish Setup phase, the starting number \u201c1\u201d is plotted on a candle that closes higher than the close of the candle four periods ago.\u00a0<\/p>\n

Meanwhile, a bearish \u201cSetup\u201d is characterized by the starting number \u201c1\u201d on a candle that closes lower than the close of the candle four periods ago. A potential point of reversal can be identified when the TD Sequential plots figure on the top or bottom of a candle in a bullish or bearish trend.<\/p>\n

As shown in the chart above, the number \u201c9\u201d has only just been printed on top of a candlestick on the Bitcoin daily chart, signaling the completion of the Setup phase. Considering that the Bitcoin price was originally in a bullish trend, it appears that the flagship cryptocurrency is set for a brief correction for a few days.<\/p>\n

In recent days, there have been heavy discussions around the price of BTC revisiting and perhaps surpassing its current all-time high. Nevertheless, Martinez<\/a> advised investors to anticipate the Bitcoin price experiencing a brief pullback \u201cbefore higher highs.\u201d<\/p>\n

Bitcoin Price At A Glance<\/h2>\n

As of this writing, the price of Bitcoin stands at around $68,272, reflecting a mere 0.5% dip in the past day. According to CoinGecko data, the premier cryptocurrency is up by nearly 9%<\/a> in the last seven days.<\/p>","protected":false},"excerpt":{"rendered":"

The Bitcoin price has not quite been able to replicate its midweek form over the weekend, hovering around the $68,000 level. Despite the quiet performance in the past day, the premier cryptocurrency has managed to hold its own above $68,000. However, a prominent crypto pundit on social media platform X has said that the price […]<\/p>\n","protected":false},"author":0,"featured_media":10515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBitcoin Price Holds Above $68,000, But TD Sequential Sounds Sell Alarm - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/bg\/bitcoin-price-holds-above-68000-but-td-sequential-sounds-sell-alarm\/\" \/>\n<meta property=\"og:locale\" content=\"bg_BG\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Holds Above $68,000, But TD Sequential Sounds Sell Alarm - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin price has not quite been able to replicate its midweek form over the weekend, hovering around the $68,000 level. 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