Crypto analyst Ali Martinez recently shared a TD Sequential chart suggesting that Bitcoin’s price is giving off a major buy signal in the 4-hour time frame. The TD Sequential is a technical indicator used to identify trend exhaustion and potential price reversals. In this case, the appearance of a green “9” candle on Bitcoin’s chart indicates that bearish momentum could be fading, signaling a potential buying opportunity for traders.
In addition to the green “9” candle, Martinez also points out an “A13” marker on the TD Sequential chart, which represents a countdown phase indicating stronger trend exhaustion. This can further reinforce the potential for a price reversal in Bitcoin’s current downtrend. The buy signal emerged as the price of Bitcoin surpassed $94,000, with $94,915 highlighted as a potential entry point for traders looking to capitalize on a possible price rebound.
While the TD Sequential buy signal suggests a favorable time to enter the market, it’s essential for traders to consider other factors such as volatility and broader market sentiment before making investment decisions. Should the current buy signal hold, Martinez predicts a price rebound. However, a failure to maintain the current price level could result in further downside for Bitcoin, potentially pushing it towards the next critical support level.
In a separate X post, Martinez presented a chart based on the Mayer Multiple, indicating a potential market top above $168,500 for Bitcoin. The Mayer Multiple compares Bitcoin’s price to the 200-day Moving Average (MA) and historically, market tops have coincided with the Multiple reaching 2.4 or higher. Currently, Bitcoin’s Mayer Multiple sits at 1.3845, but if the price continues to rise and the Multiple reaches 2.4, Martinez predicts a market top above $168,500.
As of writing, Bitcoin’s price is $94,692, meaning a surge to $168,500 would require a significant 78% increase from its current market value. This prediction highlights the potential for significant price movement in Bitcoin’s future, based on technical indicators and historical patterns. Traders and investors will be closely watching for any further developments that could confirm or refute these predictions in the coming days.
