A crypto analyst has shared a TD Sequential chart indicating that the Bitcoin price is showing a major buy signal within a 4-hour time frame. This indicator suggests that Bitcoin's bearish trend may be declining, meaning that this is an urgent time to consider entering the market.
Bitcoin Price TD Sequential Flashes Buy signal
A TD Sequential is a special technical indicator that indicates the exhaustion of movement and reversal of prices and indicates buy or sell signals. According to X (formerly Twitter) mail by crypto analyst Ali Martinez, Bitcoin's 4-hour chart shows a green “9” candle, indicating its a potential buying opportunity.
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Usually, in a recession, the green candle 9 is interpreted as a to buy a tokenindicating that bearish momentum may be reaching exhaustion and that prices may be preparing for a rebound. Martinez also shows an “A13” indicator on the TD series chart, which represents a counter level that tracks 13 more candles and indicates a stronger level. fatigue trend.
During a declinethe appearance of TD Sequential A13 often indicates a possible decline in the level of cryptocurrency sales, confirming the possibility of price conversion. A Bitcoin buy signal appeared at the moment as its price exceeded $94,000. This buy signal suggests the the best time to enter the marketwith the $94,915 price point identified as a potential entry point for traders looking to take advantage of a potential Bitcoin price rebound.
Although the TD Sequential is an indicator used to identify buy and sell signals, market participants can be cautious by considering additional factors such as volatility, broader market sentimentand more. If the current buy signal holds, Martinez has predicted that a price rebound can be expected. However, failure to maintain the current price could lead to further downsides, which could push Bitcoin to the next critical support level.
BTC market cap set at $168,500
In another more recent one X postMartinez presented a record of Bitcoin price movementpredicts a market top above $168,500 based on the Mayer Multiple. The table shows the price performance of Bitcoin based on the Mayer Multiple, which is comparable to BTC 200-day moving average (MA).
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The red line, as shown on the chart, shows the Mayer's Multiplication (MM) at 2.4, while the green line displays MM at 0.8. In addition, the blue line is the Oscillator, which follows the Mayer Multiple over time.
Historically, Bitcoin price tops have coincided with the Mayer Multiple reaching a level of 2.4 or higher. Today, the Bitcoin exchange rate has increased against Bitcoin in the table. However, if its price continues to rise and the MM reaches 2.4 again, Martinez predicts that the top of the market above $168,500 for Bitcoin.
As of writing, the price of Bitcoin is $94,692, meaning that an increase to $168,500 would require a massive increase of 78% from its current market value.
Featured image created by Dall.E, chart from Tradingview.com
