• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin Paints Two Bearish Signals as Price Holds $13K; What’s Next?

Yashu Gola by Yashu Gola
2 years ago
in Bitcoin Price
1
Advertisement

Bitcoin is looking to face a period of sell-off as its daily chart reveals the presence of two historically accurate bearish indicators.

The first of these signals is TD9 Sequential, a combination of nine successive candle formations in a particular direction, followed by a reversal. In layman terms, TD9 signifies a turning point in the bias of an asset or an index; it is popular among stock and commodity traders.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Meanwhile, the second signal that predicts a downtrend in the Bitcoin market is Doji. It reflects a candlestick whose opening and closing rates are almost exactly the same. Traders treat Doji as a trend reversal indicator.

The Double-Trouble Setup

Bitcoin was in a strong upside trend before it confirmed the TD9 Sequential and Doji indicators on its daily chart. The cryptocurrency rallied by almost 35 percent as it broke above crucial resistance levels, the latest being $13,000. Nevertheless, the said indicators suggest that the rally is fizzling.

cryptocurrency, Bitcoin, BTCUSD, XBTUSD, BTCUSDT
Bitcoin completes the TD9 Sequence cycle as it also paints a Doji candle. Source: BTCUSD on TradingView.com

A pseudonymous analyst weighed:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“A TD Sequential green “9” (yet, imperfect) on a daily time frame and a classic Doji candle at the same time. In most cases, it is followed by a decrease in price.”

The sentiment rippled elsewhere as more traders spoke in favor of a bearish reversal. Daytrader Nico, for instance, tweeted this Tuesday about the TD9 Sequence indicators from the recent history, confirming how each one of them followed a complete reversal from their previous trends.

cryptocurrency, Bitcoin, BTCUSD, XBTUSD, BTCUSDT
Bitcoin trade setup, as presented by Nico. Source: BTCUSD on TradingView.com

“Structure [is] similar to mid-October where it will range a little more around 13k (yellow trendline should hold). After that, I expect continuation to the upside (~14k). A wick into the red area is also something that may happen due to US elections ahead.”

Global analysts have warned about the uncertainty ahead of the US presidential election on November 3. It is because of a long-delayed fiscal relief package by the US Congress that, as House Speaker Nanci Pelosi and Treasury Secretary Steven Mnuchin believe, will not be finalized before the election day.

An absence of dollar liquidity expects to drive investors into the safety of cash and cash-based instruments. That, in turn, could hurt assets like Bitcoin that have so far rallied strongly against the first coronavirus stimulus package of about $3 trillion, announced in April 2020.

Bitcoin: $12.5K and Rebound

Analysts expect the next downtrend to be weaker, given the long-term fundamentals led by the prospects of the next stimulus package, as well as the Federal Reserve’s existing expansionary policies, which include ultra-low interest rates and infinite bond-buying programs.

“The stronger the rising trend, the weaker the pullback from that ‘9,’” said the pseudonymous analyst.

BTC/USD was trading at $13,135 at the time of this writing. The analyst expects it to fall to $12,500 in the next leg downwards, followed by a rebound towards $14,000.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Yashu Gola

Yashu Gola

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Related Posts

Bitcoin

Bitcoin Drops To $26K As Crypto Sell-Off Continues – Will The Slide Approach $25K?

2 months ago
Bitcoin price

Bitcoin Price Nosedives As Russian Missiles Strike Ukraine’s Cities

4 months ago
Crypto mining

Former Soviet Republic Is Primed For Crypto Mining, Despite Its Burgeoning Power Deficit

4 months ago
European Markets Regulator Urges The EU To Ban Proof-of-Work Bitcoin Mining

European Markets Regulator Urges The EU To Ban Proof-of-Work Bitcoin Mining

6 months ago
Bitcoin mining stocks, a coal mine

Bitcoin Mining Stocks Beat BTC Two-To-One in 2021 ROI

7 months ago
Price, The Bitcoinist Book Club logo

Bitcoinist Book Club: “The Bitcoin Standard” (Chapter 6, Part 1: Price)

11 months ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.