Bitcoin has shown a tremendous rise in the last 7 days, exceeding $ 52,000. While this rise ignited excitement among investors, an experienced analyst issued a bearish warning for BTC.
At this point, crypto analyst Ali Martinez, who is closely followed by investors, warned investors that Bitcoin may fall in the near term.
Pointing out that the TD Sequential indicator on Bitcoin's daily chart gives a sell signal, the analyst stated that there may be a potential correction that may last one to four days.
Underlining the importance of closely monitoring such market indicators, especially during periods of increased volatility, Martinez emphasized the past performance of the TD Sequential indicator and said that it has accurately known all buying and selling signals since December 2023.
“Warning!
The TD Sequential indicator offers a sell signal that anticipates a one to four-day candlestick retracement on the Bitcoin daily chart.
Note that all of the buy and sell signals this indicator has shown since December 2023 have been confirmed. “
Bitcoin continues to trade at $52,190 at the time of writing.
*This is not investment advice.