TD Sequential Hints Buy Opportunity for Bitcoin (BTC).
The TD sequential indicator is suggesting that now is the ideal time to buy the world’s largest cryptocurrency by market capitalization Bitcoin (BTC).
According to popular cryptocurrency analyst and trader Ali Martinez, the TD sequential has been accurate for Bitcoin in the bi-weekly chart, correctly forecasting various tops and bottoms for the asset class.
A closer look at the chart shows that the indicator correctly predicted Bitcoin’s all-time high of above $69,000 which was recorded in November 2021.
The TD sequential is mostly used to identify the turning point in the price trend of an asset. In simple terms, the indicator spots the price level where a downtrend or an uptrend exhausts itself and makes a reversal.
Per the chart provided, Martinez noted that BTC is at the turning point where it would make a full reversal from the downtrend it has endured in recent times.
“The TD Sequential has accurately anticipated market tops and bottoms on BTC bi-weekly chart. It was even able to forecast the Nov. 2021 top when BTC was trading at an ATH of ~$69,000. It now presents a buy signal for $BTC,” Martinez tweeted.
#Bitcoin | The TD Sequential has been able to accurately anticipate market tops and bottoms on #BTC bi-weekly chart. It was even able to forecast the Nov. 2021 top when BTC was trading at an ATH of ~$69,000.
It now presents a buy signal for $BTC. ? pic.twitter.com/X24p8o7aIw
— Ali Martinez (@ali_charts) March 17, 2022
Bitcoin and the whole crypto market passed yesterday another important pressure test. The FED Reserve raised the rates by 25bps.
It is worth noting that Bitcoin has been consolidating between the levels of $38,000 and $41,000 in the last two weeks and expectations are high that the cryptocurrency could surge soon. It is not certain that Bitcoin will hit its ATH when it eventually surges, but many players in the industry expect BTC to reach $100,000 this year.
Bitcoin had some interesting few weeks with spikes to 44k and 42k, which were quite rapidly sold. The good part about this Price Action is that the dips were bought even more aggressively than the price pumps.
The levels to keep a close eye on are: $37k and $35k on the downside and $40k, $42k, and $44k to the upside. A daily close above the $44.5k area will expose $46k and potentially $50k.
Bitcoin held up remarkably well in the past month, showing that it’s becoming a maturing asset that can withstand headwinds and people understand more and more its superior properties vs all types of FIAT.
Since Bitcoin reached its all-time high of $69,044, the cryptocurrency has fallen 40.7% since and is currently trading around $41,000 at press time.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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