According to Ali’s analysis, the TD Sequential indicator suggested that Bitcoin’s current uptrend might be losing momentum. This could potentially lead\u00a0to a correction<\/a> over the next one to four candlesticks, particularly noticeable on the four-hour chart.<\/p>\n The TD Sequential presents a sell signal on the #Bitcoin<\/a> 4-hour chart, anticipating a one to four candlesticks correction for $BTC<\/a>. pic.twitter.com\/OC9Clv0Tat<\/a><\/p>\n \u2014 Ali (@ali_charts) May 16, 2024<\/a><\/p><\/blockquote>\n Contrasting this perspective, another prominent analyst, Rekt Capital, recently provided<\/a> a more optimistic view. According to Rekt Capital, Bitcoin ended its downtrend in mid-April, breaking into an uptrend with its price surpassing previous resistance levels<\/a>.<\/p>\n This change has been marked by Bitcoin forming its first higher high since its drop to $56,000, as highlighted<\/a> by Rekt Capital. This indicates a possible continuation of the bull market<\/a> despite periodic market attempts to unsettle investors.<\/p>\n The TD Sequential indicator’s sell signal comes as Bitcoin has shown a 7.6% increase over the past seven days, reaching a 24-hour high of $66,567 before retracing slightly to $65,592.<\/p>\n Rekt Capital noted<\/a> the significance of the $60,000 support level, suggesting that maintaining this level is crucial for further positive momentum. He remarked that the recent breakout to $66,000 is a testament to how quickly market sentiment can shift toward a bullish trend.<\/p>\n The analyst disclosed<\/a>:<\/p>\n The Bitcoin Bull Market is not over. But time and time again, the market will try to shake you out of your positions before you are able to profit significantly from them.<\/p><\/blockquote>\n Meanwhile, Mike Novogratz of Galaxy Digital commented<\/a> on the broader market trends, noting that the crypto sector is at a critical juncture where narratives are evolving, and the market landscape<\/a> could change rapidly, especially with impending regulatory developments in the US.<\/p>\n Mike Novogratz further expanded on the macro view, suggesting that the next few months could be pivotal for the crypto market<\/a> as it responds to new narratives and regulatory developments.<\/p>\n It\u2019s been a fascinating week in crypto. Narratives are forming and odds are shifting. It\u2019ll be interesting to watch the next few months play out, and even more interesting to watch the jump shift that\u2019ll occur as soon as there\u2019s regulatory clarity around crypto in the U.S.\u2026 pic.twitter.com\/t0g5rTIKjP<\/a><\/p>\n \u2014 Mike Novogratz (@novogratz) May 16, 2024<\/a><\/p><\/blockquote>\n\n
Diverging Bitcoin Views From Top Crypto Analysts<\/h2>\n
Insights From Galaxy CEO On BTC’s Future Trends<\/h2>\n
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