Failed Bearish Signal Could Send Bitcoin To $85K Next Month
Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback. Due to the technical failure, historical data suggests...
- Bitcoin recently gave a bearish signal, but it failed to produce a significant pullback.
- Failed bullish patterns can be extremely bearish, as they attract long-side positioning that is forced to unwind lower.
- The TD Sequential market timing indicator suggests that Bitcoin could reach a new all-time high of $85,000 per coin in a month.
- In the past, a similar signal led to a 143% rally in four weeks and over 300% more in total.
- The indicator also provides support and resistance levels, with the latest setup raising the floor price support to $25,000.
The article presents a bullish outlook for Bitcoin, suggesting that a failed bearish signal could lead to a significant rally and a new all-time high.