{"id":419240,"date":"2020-03-26T16:00:08","date_gmt":"2020-03-26T16:00:08","guid":{"rendered":"https:\/\/wncen.com\/?p=419240"},"modified":"2020-03-26T14:10:13","modified_gmt":"2020-03-26T14:10:13","slug":"bitcoin-price-action-triggers-devastatingly-accurate-sell-signal","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-action-triggers-devastatingly-accurate-sell-signal\/","title":{"rendered":"Bitcoin Price Action Triggers Devastatingly Accurate Sell Signal"},"content":{"rendered":"
Just two short weeks after Bitcoin price<\/a> set a record for one of its largest single-day collapses in the asset\u2019s young history, the latest sequence of price action has led to a devastatingly accurate sell signal, that\u2019s preceded some of the asset\u2019s most dangerous drops.<\/span><\/p>\n Is the first-ever cryptocurrency preparing for more carnage in the days ahead? And why is this sell signal considered so accurate?<\/span><\/p>\n Bitcoin price<\/a> has been more of a rollercoaster ride than usual as of late. <\/span><\/p>\n The leading cryptocurrency by market cap started off the new year strong, rallying by over 50% and reclaiming highs above $10,000.<\/span><\/p>\n But the key level failed to incite a further FOMO-driven retail investor rally, putting the asset on the ropes and staggering. Not even weeks later, the panic over the rapidly spreading coronavirus pandemic spilled into the world of finance, causing a catastrophic selloff of all assets, including Bitcoin, gold, stocks, and more.<\/span><\/p>\n Related Reading | Bitcoin\u2019s 85% Bounce Shows Crypto Is Fundamentally Alive and Well<\/a>\u00a0<\/strong><\/em><\/p>\n The dangerous collapse took Bitcoin from $7,500 to under $4,000. But not even two weeks later, the crypto asset has nearly doubled from its low and is trading just under $7,000 once again.<\/span><\/p>\n After going from over $10,000 to under $4,000, then back to $7,000, what exactly is next for the first-ever cryptocurrency?<\/span><\/p>\n According to the TD Sequential indicator<\/a>, Bitcoin price has triggered a sell signal on daily timeframes and has a high probability of dropping in the days following.<\/span><\/p>\n <\/p>\n Bitcoin price<\/a> action has trigged a TD 9 sell signal on the TD Sequential indicator, created by financial market timing expert Thomas Demark.<\/span><\/p>\n Demark is the Founder and CEO of DeMark Analytics, LLC<\/a>, and has designed a number of well-known technical analysis indicators, such as the Sequential, Combo, Setup, Setup Trend, Countdown,\u00a0Range Expansion Index, D-Wave, TD Lines, Differential, and Camouflage.<\/span><\/p>\n TD Sequential has been used to accurately predict many of Bitcoin\u2019s most famous tops and bottoms, including the December 2017 top, and 2018 bottom.<\/span><\/p>\n More recently, the TD 9 last triggered a sell signal in Bitcoin price on February 13, 2020<\/a>. That date is the current high for the year thus far, and in the days following, Bitcoin price collapsed by over 60%. The tool also accurately predicted the end of the parabolic rally in altcoins Tezos, Chainlink, and Ethereum<\/a>.<\/span><\/p>\nBitcoin Price Triggers Sell Signal on TD Sequential Indicator<\/h2>\n
TD 9 Sell Signal Triggered at $10K, Will Another Drop Follow?<\/h2>\n