{"id":422514,"date":"2020-05-02T01:00:26","date_gmt":"2020-05-02T01:00:26","guid":{"rendered":"https:\/\/wncen.com\/?p=422514"},"modified":"2024-06-11T13:48:12","modified_gmt":"2024-06-11T13:48:12","slug":"bitcoins-td-sequential-indicator-is-pointing-to-severe-uptrend-exhaustion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoins-td-sequential-indicator-is-pointing-to-severe-uptrend-exhaustion\/","title":{"rendered":"Bitcoin\u2019s TD Sequential Indicator is Pointing to Severe Uptrend Exhaustion"},"content":{"rendered":"
Bitcoin appears to have now entered another bout of consolidation as the cryptocurrency attempts to break into the $9,000 region. This comes as buyers struggle to surmount the heavy selling pressure that has laced the upper $8,000 region.<\/p>\n
It seems as though could be on the cusp of seeing a pullback, as one extremely popular technical indicator called the \u201cTD sequential\u201d is signaling that this uptrend is running out of fuel.<\/p>\n
This isn\u2019t the only indicator blinking bear-favoring signs, as another historically accurate top indicator just flashed, signaling that some intense downside could be imminent in the days and weeks ahead.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down marginally at its current price of $8,770. This marks a slight decline from daily highs of $9,200 that were set overnight, and only a minor rebound from lows of roughly $8,700.<\/p>\n The cryptocurrency is now entering a consolidation phase as it struggles to surmount the resistance that laces the region between its current price and $9,000.<\/p>\n The overnight rejection at $9,200 marked the second one that BTC has seen throughout the course of its latest explosive upsurge, and a continued defense of this level from sellers could be enough to force it lower.<\/p>\n It is important to note that this uptrend may be slightly different than those seen in prior months and years, as this one was driven primarily by spot buying pressure.<\/p>\n Typically, margin traders drive explosive movements through the use of leverage, but the massive decline in open interest seen in the time since BTC\u2019s mid-March meltdown has elucidated inactivity amongst this investor base.<\/p>\n Nevertheless, the benchmark cryptocurrency is still showing some signs of weakness due to the massive upwards wick on yesterday\u2019s daily candle leading one historically accurate indicator to flash a short sign.<\/p>\n One popular pseudonymous trader on Twitter offered a chart<\/a> showing the historical accuracy of the indicator, sarcastically asking \u201cdoes the halving fix this?\u201d<\/p>\n