{"id":425974,"date":"2020-06-02T19:00:43","date_gmt":"2020-06-02T19:00:43","guid":{"rendered":"https:\/\/wncen.com\/?p=425974"},"modified":"2020-06-03T15:46:00","modified_gmt":"2020-06-03T15:46:00","slug":"crypto-analyst-bitcoin-td-sequential","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-td-sequential\/","title":{"rendered":"Crypto Analyst on Bitcoin Collapse: Never Underestimate The Power of TD Sequential"},"content":{"rendered":"
Just ahead of last night’s daily close, Bitcoin price exploded above $10,000<\/a> in a powerful break of the asset’s most important resistance, liquidating overleveraged shorts along the way.<\/p>\n But Sunday night’s daily price candle coming to a close also opened a new weekly price candle, which also triggered a TD 9 sell setup. It’s that signal that may have accurately called today’s flash crash in Bitcoin, reminding crypto traders to never underestimate the power of the TD Sequential indicator.<\/p>\n With Sunday night’s weekly and monthly candle closed, a new week and month opened with it. June 1 kicked off with an explosive rally<\/a> that seemed to put an end to the popular investment phrase “sell in May and go away.”<\/p>\n Bitcoin price rocketed ahead of last night’s daily close by over $600 and 6%<\/a>, breaking above $10,000. The leading cryptocurrency by market cap has struggled with the resistance level for years now.<\/p>\n Related Reading | Bitcoin Price Flash Crashes $600 In Less Than 5 Minutes, Last Night\u2019s Rally Erased<\/a><\/strong><\/em><\/p>\n The pump brought the price of Bitcoin just high enough to perfect the sell setup on the TD Sequential indicator, which requires the 9 candle to push higher than the 7 or 8 candles before it.<\/p>\n Bitcoin held above $10,000 overnight, but this afternoon flash crashed by $600 and 6%<\/a>, erasing the entire rally from last night in what the crypto market refers to as a “Bart” pattern.<\/p>\n https:\/\/twitter.com\/Moe_mentum_\/status\/97894403<\/p>\n One crypto analyst<\/a> who pointed out the 9 sell setup ahead of last night’s crash, used the successful call to remind crypto traders to “never underestimate” the power of the TD Sequential indicator.<\/p>\n In the image below, you can clearly see how the wick on the 9 candle extended higher than the previous several candles. It also touched a key resistance block that Bitcoin has been unable to close above on weekly timeframes.<\/p>\n <\/p>\n Also pictured above, a 9 candle can be seen at the top of the June 2019 rally that sent Bitcoin back into another year-long downtrend.<\/p>\n The TD Sequential indicator created by market timing expert Thomas Demark<\/a>, has once again shown to the cryptocurrency world just how powerful and accurate the tool can be.<\/p>\n A TD 9 signal also called Bitcoin’s top at $20,000 in 2017, and bottoms at $3,200 and again at $6,400 in December of 2018 and 2019.<\/p>\nBitcoin Flash Crash Called In Advance By TD 9 Sell Setup<\/h2>\n
Why You Shouldn’t Underestimate The TD Sequential Indicator<\/h2>\n