Bitcoin Paints Two Bearish Signals as Price Holds $13K; What’s Next?

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Bitcoin is looking to face a period of sell-off as its daily chart reveals the presence of two historically accurate bearish indicators. The first of these signals is TD9 Sequential, a combination of nine successive candle formations in a particular direction, followed by a reversal. In layman terms, TD9 signifies a turning point in the bias of an asset or an index; it is popular among stock and commodity traders. Meanwhile, the second signal that predicts a downtrend in the Bitcoin market is Doji. It reflects a candlestick whose opening and closing rates are almost exactly the same. Traders treat Doji as a trend reversal indicator. The Double-Trouble Setup Bitcoin was in a strong upside trend before it confirmed the TD9 Sequential and Doji indicators on its daily chart. The cryptocurrency rallied by almost 35 percent as it broke above crucial resistance levels, the latest being $13,000. Nevertheless, the said…

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