Crypto
Bitcoin Buy Signal Triggers Rebound Hope Amid Sharp Declines
An analyst claims that Bitcoin has triggered a buy signal through the TD Sequential indicator, suggesting a potential price rebound within 3 to 9 days. The signal appears after weeks of sharp declines that pushed BTC below $67,000.
The decline saw Bitcoin lose around $30,000 since trading above $90,000 on January 28, bottoming out at $60,000 last Friday before briefly recovering to $72,000 on two separate occasions. As of February 10, the price slipped back under $67,000.
The TD Sequential indicator has a notable track record across multiple cryptocurrencies and has 'perfectly timed' local tops for XRP in the past. Analyst Ali Martinez notes that this could be signaling another rapid reversal.