Crypto traders rely on several tools to help predict future Bitcoin price action and trend changes. Few tools have been as reliable over the years as the TD Sequential indicator, created by market timing expert Thomas Demark.
The few times this tool has failed on the highest timeframes, Bitcoin has absolutely exploded in the months following. Is this time different and the sell signal its giving will be reliable? Or will this be the last chance to buy Bitcoin below its former all-time high of $20,000?
Bitcoin Triggers Rare Sell Signal That Once Failed Kicked Off The Bull Market
Bitcoin is one of the most volatile assets historically, due to its speculative nature and rise from literally nothing to nearly $20,000 in 2017.
The cryptocurrency is picking up steam again, and another bull market could be beginning. As the first of its kind, Bitcoin is just over a decade old and has only two previous bear markets to go on.
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Typically, a TD 9 signal suggests trends are nearing exhaustion, and the tool has been reliable all throughout the bear market on daily and weekly timeframes at calling tops and bottoms in Bitcoin and altcoins.
The highest timeframe signals are also usually the most dominant and effective when predicting the future trend. In the last two cases, however, the TD Sequential failed miserably on monthly time frames at calling the top, causing investors to potentially miss out on an over 8,000% rally.
Now, the signal is back, but is this time different?
The monthly TD Sequential indicator has perfected an “8” sell setup, and a “9” could be next | Source: BLX on TradingView.com