Failed Bearish Signal Could Send Bitcoin To $85K Next Month


18 Nov 2023 4:05 PM

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.

Go to publisher site

You May Ask

What is the significance of a failed bullish pattern in technical analysis?What is the TD Sequential indicator and how does it signal trend exhaustion?How did Bitcoin perform after a similar signal in 2020?What is the potential price target for Bitcoin if the current signal leads to a similar magnitude move?What are the support and resistance levels provided by the TD Sequential indicator?

Suggested Reads