TD Sequential Is Providing A Sell Signal On Daily Bitcoin Chart Currently
In a new on X, analyst Ali discussed a TD Sequential sell signal forming in the Bitcoin daily price chart. The “Tom Demark (TD) Sequential” is an indicator in technical analysis used for pinpointing locations of probable tops and bottoms in any asset’s price.
The TD Sequential has two phases. The first is called the “setup” and lasts nine candles. Once nine candles (of the same polarity) are in, the setup completes, and the indicator signals a likely reversal for the price.
The TD Sequential setup that has just completed for BTC | Source:
As is visible in the graph, the TD Sequential setup has recently finished with green candles for Bitcoin. These green candles have come for the coin as it has enjoyed some sharp bullish momentum, which has taken its price beyond the $52,000 mark.
The fact that the TD Sequential setup has formed with green candles suggests the indicator may now be providing a sell signal for the cryptocurrency’s price.BTC Price
Bitcoin’s recent momentum has meant that the asset has been among the best performers in the sector, registering growth of around 16% during the past week. Currently, the coin is hovering around the $52,500 level. The chart below shows the asset’s trajectory over the last month.The price of the coin seems to have been sharply going up recently | Source: