This Bitcoin Indicator Was Right in the Last 2 Weeks, and Now It Flashes “Buy” Signal for BTC

Popular crypto analyst Ali highlighted the TD Sequential indicator in a recent tweet, noting that it has accurately predicted every major Bitcoin price move in the past two weeks on the 4-hour chart.

As Ali explained, “After the recent downswing, this indicator presented a buy signal. If $BTC can hold above $42,200, BTC could rebound to $44,300 or $45,500.”

The TD Sequential is a technical indicator that identifies overbought/oversold conditions and potential trend reversals. According to Ali, Bitcoin appears oversold at current levels below $43,000, signaling that a bounce could be imminent.

If Bitcoin holds support around $42,200 in the coming days, the TD Sequential suggests we could see a rally back towards the $45,000 level or even higher in the near-term.

Has Bitcoin Topped Out for This Cycle?

In a detailed tweet thread, analyst CryptoCon speculated that Bitcoin may have already put in its cycle top around $49,000 based on historical patterns:

“At the touch of 49k, Bitcoin reached a very important point on the Weekly Ichimoto chart – the top of the red cloud. This has marked the mid-top with very high accuracy in previous cycles.”

CryptoCon went on to compare the recent $49,000 peak to previous cycle tops that aligned closely with launches of major crypto products, like the CME Bitcoin futures in 2017. This time, the Bitcoin top formed right as the first U.S. Bitcoin ETF began trading.

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While some analysts expected the ETF launch to directly spur a rally to $100,000, CryptoCon believes the cycles of fear and greed will continue playing out as they have in past markets. Just because an ETF has launched doesn’t mean Bitcoin can only go up.

So is $49,000 indeed the cycle top for Bitcoin, or can it power higher in the months ahead? The mixed analyst perspectives highlight why macro support around $42k is key. As long as Bitcoin holds this level, bulls can make the case for continuation towards a new cycle highs.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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