Skip to main content

A closely followed crypto analyst is issuing a warning, saying Bitcoin (BTC) just flashed a signal suggesting that a sell-off event may be imminent.

Crypto strategist Ali Martinez warns that Bitcoin’s Tom Demark (TD) Sequential indicator is pointing to a possible corrective move.

The TD Sequential indicator traces a series of price points to signal possible trend reversals.

Says Martinez,

“Bitcoin: the TD Sequential is flashing sell signals on BTC weekly and three-day charts! Remember, the last time TD showed buy signals in both timeframes was in early September, kickstarting the recent bull run.”

Image
Source: Ali Martinez/X

Looking at the activities of Bitcoin miners, Martinez says that the investor cohort has been using the recent rally to unload thousands of BTC.

“Since Bitcoin surged past $34,000 in late October, BTC miners have been selling.

Over 5,000 BTC, worth approximately $175 million, have been offloaded since then.”

Image
Source: Ali Martinez/X

At time of writing, Bitcoin is trading for $37,026.

As for Ethereum (ETH), Martinez notes that the coin’s recent rally kicked off without inflows from deep-pocketed investors.

“Ethereum has reclaimed the $2,000 threshold, and intriguingly, this is all happening before whales have even started buying.”

Image
Source: Ali Martinez/X

At time of writing, Ethereum is trading for $2,042.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney




Source link

admin

Author admin

More posts by admin
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments