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A crypto analyst has shared a TD Sequential chart indicating that the The Bitcoin price is giving an important buy signal in the time frame of 4 hours. This signal suggests that Bitcoin’s bearish momentum could be waning, making this a potentially critical time to consider entering the market.
Bitcoin price TD consecutive flashes of buy signal
A TD consecutive is a unique technical indicator that identifies trend exhaustions and price reversals and indicates buy or sell signals. According to an X (formerly Twitter) after by crypto analyst Ali Martinez, Bitcoin’s 4-hour chart shows a green “9” candle, indicating a potential purchasing opportunity.
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Normally in a downtrend the green 9 candle is interpreted as one buy signalThis indicates that bearish momentum may be running out and prices could be preparing for a recovery. Martinez also shows an ‘A13’ marker on the TD Sequential chart, which represents a countdown phase that follows 13 additional candles and identifies a stronger candle. trend exhaustion.
During a downward trendthe appearance of a TD Sequential A13 often signals a potential decline in a cryptocurrency’s sell-off phase, raising the possibility of a price reversal. Bitcoin’s current buy signal emerged when the price crossed $94,000. This buy signal suggests a optimal time to enter the markethighlighting the $94,915 price point as a potential entry point for traders looking to take advantage of a possible recovery in the Bitcoin price.
Although the TD Sequential is an indicator used to identify buy and sell signals, market participants may want to exercise caution by considering additional factors such as volatility, broader market sentimentand more. If the current buy signal continues, Martinez has predicted that a price rebound can be expected. However, the inability to maintain the current price could lead to further downsides, potentially pushing Bitcoin to the next level critical support level.
BTC market top set at $168,500
In another, more recent one X messageMartinez presented a graph of Bitcoin price movementswith a market top above $168,500 predicted based on the Mayer Multiple. The chart shows Bitcoin’s price performance based on the Mayer Multiple, which compares BTC to the 200-day moving average (MA).
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The red line, as seen on the map, represents the Mayer multiple (MM) at 2.4, while the green line shows MM at 0.8. Furthermore, the blue line is the oscillator, which tracks the Mayer Multiple over time.
Historically, Bitcoin price spikes have coincided with reaching the Mayer Multiple level of 2.4 or higher. Currently, Bitcoin’s Multiple Mayer is at 1.3845 on the chart. However, if the price continues to rise and the MM reaches 2.4 again, Martinez predicts a market at the top above $168,500 for Bitcoin.
At the time of writing, Bitcoin’s price is $94,692, meaning an increase to $168,500 would require a significant 78% increase from its current market value.
Featured image created with Dall.E, chart from Tradingview.com