ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

The Indicator That Signaled Bitcoin’s Reversal From $6,400 Prints Bearish Sign

In the Past Few Weeks, BTC Rallied While Hitting as High as $9,850 in the Last 24 Hours.

Tomiwabold Olajide by Tomiwabold Olajide
February 8, 2020
in News, Price Analysis
0
bitcoin
0
SHARES
368
VIEWS
Share on FacebookShare on Twitter

In the past few weeks, BTC rallied while hitting as high as $9,850 in the last 24 hrs. Several technical analysts opinionated that BTC price had earlier reached a critical support level which may further spur the pioneer crypto asset into a run. In the same school of thought, some foresee BTC hitting the $10k mark and even reaching $28,000 in months to come just in time before halving takes place.

However, crypto analyst Tom Demark has another opinion. Tom Demark, a consultant at Point 72, inventor of the TD Sequential Indicator, believes that BTC rally may be shortlived as the Sequential Indicator printed a reversal candle whose outlook is more bearish than bullish.

Citing three instances which the TD sequential had forecasted with measure of accuracy, in a Bloomberg interview, Demark recalled how the TD Sequential Indicator printed a reversal candle in December 2017 in which the flagship crypto-asset had a wild run hitting ATH of $20K, secondly when BTC price plunged to as low as $3,150 in December 2018, and lastly BTC climbing to $14K mark in June last year.

The TD sequential Indicator which came into the limelight last two years gives inflection points where crypto assets have hit a macro-reversal by printing a “13” candle which is a reversal candle.

The Indicator Suggests BTC Price May Experience a Pullback

Thomas Thornton, an analyst at Hedge Fund Telemetry maintained the same school of thought with Tom Demark, the inventor of TD sequential Indicator, that BTC’s recent rally may soon be cut short.

Thornton had anticipated a BTC price reversal from below $ 7,000 at the end of December 2019, when the Sequential Indicator printed the candle “13”, as predicted.

On Twitter, he advises his followers to start long selling and be neutral, as BTC may experience a pullback in the next few weeks due to the formed candle “13”.

Thornton, however, did not name the range of rollback, but crypto analyst Mayne suggests that it may exceed $ 1,000. That may lead to a decrease in the price of BTC to $ 8,000 level.

Forecasts Beyond the Bearish Sign
Looking beyond the technical dimension,  Alex Krüger, an economist, and crypto analyst believe that BTC could soon back down based on historical events.

He believes that after the news that the BitMex financing rate for Bitcoin contracts is high at 0.14%, it is expected to roll back based on past events in which the BTC price plunged in the following days.

And, of course, there are no absolutes in this scenario, but in most cases, financing rates kept an inverse relationship to the BTC price.

Image Credit: Shutterstock

Tags: Alex KrügerBitcoin price predictionBTC PriceTD Sequential IndicatorThomas ThorntonTom Demark
Previous Post

McCaleb Continues to Reign as the Biggest, Renowned Whale in the Crypto Space

Next Post

The Indicator That Signaled ETH Surge by 400% Last Two Years Print Bullish One More Time

Next Post
Ethereum

The Indicator That Signaled ETH Surge by 400% Last Two Years Print Bullish One More Time

Recent Stories

BTC/USD

BTC Price Analysis: In a Return Rally BTC/USD Grinds Past $40,000 Amid Grayscale Bitcoin Purchase of $80M

January 14, 2021
Wunderbit Trading

Wunderbit Trading – Copy Trading Platform That Suits All 

January 14, 2021
bitcoin

Top 7 Open-source Code Bitcoin Wallets

January 14, 2021
Bitcoin

Bitcoin Institutional Investors Not Worried About Recent BTC Decline

January 13, 2021
Crypto Analyst

Crypto Analyst Predicts BTC Will Plunge Below $20,000, BTC Up Over 2.7%

January 13, 2021
DOT/USD

DOT Price Analysis: Massive Liftoff on DOT/USD to $10.98, On-Chain Data Indicates a Climb in Polkadot Volume

January 13, 2021
Financial

HQLAx Secures $17.5 Million from Top Financial Institutions

January 12, 2021
Rebounds

PayPal Crypto Sales Reach New High As Bitcoin Rebounds

January 12, 2021
XRP Is an Exchange

XRP Is an Exchange Token and Not a Security – UK Treasury

January 12, 2021
ETH/USD

ETH Price Analysis: Rebound on ETH/USD From $905 Lows Amid Increasing Ethereum Whale Accumulation

January 12, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 39,451.00 12.99%
  • ethereumEthereum (ETH) $ 1,232.43 14.3%
  • tetherTether (USDT) $ 0.999071 0.19%
  • bitcoin-cashBitcoin Cash (BCH) $ 529.71 10.78%
  • binancecoinBinance Coin (BNB) $ 41.60 6.26%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree