Bitcoin and Altcoins indicate that the Crypto Rally is coming to an end
The crypto rally of 2020 is already one of the history books, with Bitcoin and altcoins rising more than 50% to date, and in some cases, specific crypto assets increased much more than 1,000%.
But the scandalous and irrational rebound could come to an end soon if the sales signals that flash in the market trigger a widespread liquidation.
Is the end of the 2020 Rally ready through Altcoins and the Rest of the Crypto?
Cryptocurrency traders and analysts are regularly tracking chart after chart, hoping to find some information to advise them about future price movements.
The tools they use involve a detailed technical analysis, which uses chart patterns in combination with indicators and oscillators.
One of those tools, developed by financial analyst Thomas DeMark, called the TD9 sequential indicator, has issued sales signals throughout the crypto market.
The “sell” TD9 signal has been activated in the USD pairs of Bitcoin, Ethereum, Litecoin, Cardano, Binance Coin, Chainlink and Monero.
The indicator signal is triggered when a series of candles closes in a particular sequence that suggests that a trend is weakening, or that there may be relief in the other direction.
The creator of the indicator is specifically known for its skill at the time of the market and for using the ability to properly predict the fund of the stock market in October 2011 within a point of its exact final minimum.
Predict the top and bottom of Bitcoin with TD9
If you question the use and validity of the tool in the encryption markets, do not do so. Thomas DeMark also rated the top of Bull Run Top 2017, the bottom of December 2018 and the top of June 2019 with unmatched precision.
The DeMark tool can predict another top: the top of the crypto currency rally.
Bitcoin has almost 50% so far this year, while alternative currencies like Ethereum have more than 100%. Rare outliers such as Tezos increased more than 400% in the new year.
At the first sign of a reversal, the gains that have accumulated over almost two months will now be taken, which will result in a massive sale in cascade and a coverage of long positions.
The fact that the market believed that a bullish breakout was upon us could also make the liquidation more severe since fears of a new downtrend or deep fall could reach extreme levels.
However, the next fall in the big crypto market may be the last one before the bull run begins. That fall can begin now, now that TD9 Sequential has issued these sales signals in Bitcoin and altcoins like Ethereum and others.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.