A technical signal suggests Bitcoin could be preparing for an upward move, according to crypto analyst Ali. However, the success of this potential rally hinges on a crucial support level.
What you'll learn 👉
TD Sequential Points to Possible BTC Price Reversal
The TD Sequential indicator on Bitcoin’s 4-hour chart has flashed a buy signal, as observed by Ali in his recent analysis. This technical development comes as Bitcoin price trades at $95,283.6, down 1.69% in the current 4-hour session.
Ali emphasizes that while this signal typically suggests an upcoming price rebound, its validity depends entirely on Bitcoin maintaining support at $93,500. “The TD Sequential presents a buy signal on the Bitcoin 4-hour chart, anticipating a price rebound. But it will all depend on whether BTC can hold $93,500 as support!” Ali notes.
Technical Context and Bitcoin Market Structure
Looking at the Bitcoin/USDT perpetual contract on Binance’s 4-hour timeframe, recent price action shows persistent selling pressure, evidenced by a series of red candlesticks. A previous red 11 (C11) formation indicated bearish exhaustion, followed by the current green 9 signal suggesting a potential trend reversal.
The appearance of a small green candle marks a slight pause in the downward momentum. However, the modest buying volume indicates that bulls haven’t yet committed to pushing prices higher with conviction.
Read Also: Expert Makes Urgent XRP Price Update: What to Watch
Critical BTC Price Levels and Scenarios
According to Ali’s analysis, $93,500 serves as the make-or-break level for Bitcoin’s short-term trajectory. A sustained hold above this support could validate TD Sequential’s buy signal, potentially pushing Bitcoin toward resistance near $98,000 or higher.
However, if selling pressure intensifies and Bitcoin loses the $93,500 support, the bullish setup could be invalidated, possibly leading to a deeper correction. Ali’s cautious stance emphasizes the importance of waiting for confirmation before making trading decisions based on this signal.
As the market digests these technical developments, traders would be wise to follow Ali’s lead in watching the critical $93,500 support level closely. The next few hours could prove decisive for Bitcoin’s short-term price direction.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
