Bitcoin TD Sequential Is Flashing A Buy Signal Right Now

An analyst has pointed out how the Bitcoin Tom Demark (TD) Sequential has just given a signal that could be bullish for the asset's price.

An analyst has highlighted how Bitcoin on its 24-hour chart has just received a bullish signal from the Tom Demark (TD) Sequential.

Bitcoin 24-Hour Chart Shows A Bullish TD Sequential Setup

As pointed out by an analyst in a recent post on X, a TD Sequential signal has just formed for Bitcoin on its daily chart. The “TD Sequential” is a technical analysis (TA) indicator that’s used to identify potential tops and bottoms in an asset’s price.

The indicator has two phases: setup and countdown. The completion of each of these phases is assumed to mark a turning point in the cryptocurrency’s trend.

In the first phase, the setup, candles of the same color on the chart are counted up to nine. These candles don’t have to be consecutive, as long as there are nine of them. When the ninth candle completes, the setup is said to be ‘complete,’ and the price may have reached a reversal.

The second phase, the countdown, begins where the setup left. It functions in the same way, except that candles are counted up to 13 instead. After these 13 candles, the asset reaches another potential point of trend exhaustion.

The direction in which the price continues after the completion of either phase depends on the polarity of the candles involved in the phase’s completion. Green candles indicate a reversal to the downside, while red candles suggest the formation of a bottom.

Bitcoin’s 24-hour chart has recently completed a bullish TD Sequential setup. Below is a chart shared by Martinez that shows the pattern in the coin’s daily price:

It seems that the 24-hour price of Bitcoin has recently completed a TD Sequential setup with nine red candles, suggesting that the asset may be due for a bullish reversal.

In the chart, the analyst has also marked the last signal that the indicator gave for the cryptocurrency. This previous signal was a sell one and it was also able to hit the nail on the head as it coincided with last month’s price top.

Considering this pattern, the latest TD Sequential signal may also turn out to be valid for Bitcoin. If so, it could finally help the asset shrug off its recent bearish winds.

In other TD Sequential news, another top coin, Cardano (ADA), also completed a signal recently, as highlighted by Martinez in a separate post on X.

As shown in the chart below, the pattern is also bullish for ADA.

BTC Price

Yesterday, Bitcoin slipped below the $95,000 level, but the asset has quickly recovered in the past day, and its price is now hovering around $97,700 at the time of writing.