Bitcoin Sunday Rally Sparks Warning of Monday Pullback
Bitcoin's Sunday rally has sparked concern among investors, with analyst Ali Martinez warning of a potential Monday pullback. This pattern, where Bitcoin's Sunday gains are followed by Monday losses, has occurred five times in the past month, with each pair flipping direction. The most recent example, on September 27, saw BTC finish the Sunday up 0.01% before sliding 1.12% on Monday.
A second warning comes from the TD Sequential indicator, which has flashed a sell signal on Bitcoin's four-hour chart. Each of the previous four comparable signals was followed by a correction, with declines ranging from 1.74% to 4.37%. Ethereum and Solana have also produced similar signals, with past declines of up to 5.76%.
Despite this caution, Bitcoin's price remains above $86,000, up 1.5% in 24 hours and nearly 4% in the last seven days. However, the price is still down roughly 31% on the year and about the same distance below its all-time high of over $126,000.