Bitcoin Faces Potential Monday Pullback After Sunday Rally

Analyst Ali Martinez has issued a warning about a potential Bitcoin pullback on Monday, following a Sunday rally. Martinez noted that over the past month, Bitcoin's price movements on Sundays have consistently reversed on Mondays. This pattern included five instances between August 29 and September 28, where Sunday gains were followed by Monday losses, and Sunday declines were followed by Monday gains.

Martinez also highlighted a TD Sequential sell signal on Bitcoin's four-hour chart. Historically, similar signals have preceded corrections, with previous examples showing declines ranging from 1.74% to 4.37%. Ethereum and Solana have also displayed comparable sell signals, with past instances leading to declines of up to 5.76%.

Despite these cautionary signs, Bitcoin has shown gains across various timeframes. The price moved above $87,000 after a weak US jobs report on Friday, though it later fell below $84,000. At the time of writing, Bitcoin was trading just above $86,000, up about 1.5% in 24 hours and nearly 4% over the past week.

The critical resistance level for Bitcoin is identified at $87,500, while support is seen in the range of $82,000 to $85,000. Although Bitcoin has gained nearly 6% over two weeks and over 8% in the last month, it remains roughly 31% down on the year and below its all-time high of over $126,000.