Analyst Who Predicted The Bitcoin Rally Reveals Time To Sell

As a seasoned researcher with over two decades of experience in the financial markets, I find myself constantly intrigued by the ever-evolving world of cryptocurrencies, and Bitcoin in particular. The recent surge in its price has been nothing short of remarkable, but as Ali Martinez’s tweet suggests, we must always keep an eye on potential corrections.


In recent times, Bitcoin has shown remarkable growth following a significant decline in its value during the first fortnight of September. This upward trend began mid-week, coinciding with the Federal Reserve’s decision to lower the key interest rate by 0.5%. This action, which benefited cryptocurrencies, sparked this rally.

It’s worth mentioning that several crypto experts, including Ali Martinez, who specializes in TD Sequential, had predicted this rally using technical indicators. However, surprisingly, Martinez has advised investors to consider taking their gains, suggesting a possible price adjustment or correction may occur soon.

Analyzing The Bitcoin Rally

Starting midweek, Bitcoin, which had been slow to pick up speed earlier in the month, experienced a robust surge. This surge propelled Bitcoin back above $63,000 and expanded its control over the market. The peak of this surge reached $63,830, representing a rise of approximately 20.77% from its lowest point on September 6 at $52,827.

However, despite the current optimism surrounding Bitcoin’s price action, Martinez has issued a word of caution to investors. In a post shared on social media platform X, Martinez highlighted that the TD Sequential, a tool he frequently uses to analyze market trends, is now indicating the potential for a price correction near the $63,700 level.

Martinez noted that the same TD Sequential signal, which indicated a buy opportunity at $57,400 prior to Bitcoin’s latest upward trend, now seems to indicate a potential downturn. This implies that while the current growth has been impressive, the market might be approaching a crucial turning point where prices could reverse direction.

Based on the recommendations from the TD Sequential, you were advised to purchase Bitcoin when its price was around $57,400. Now, it’s suggesting that it might be a good time to secure some earnings as Bitcoin has risen to approximately $63,700!

— Ali (@ali_charts) September 20, 2024

Is It Time To Sell?

Over the past few months since July, the $63,000 mark, which previously functioned as an obstacle for orders earlier in the year, has predominantly served as a barrier during price surges. Nevertheless, despite the TD Sequential hinting at a possible price downturn, Bitcoin enthusiasts are currently attempting to verify the continuation of the upward trend.

Based on an analysis by Ali Martinez, Bitcoin is currently approaching its 200-day Simple Moving Average (SMA). This particular level is crucial for signaling bullish trends. Previous occurrences have shown that if Bitcoin fails to surpass this 200-day SMA, it could result in substantial drops, potentially bringing the price down to around $40,000 by year’s end. If history follows a similar pattern, we might witness such a correction.

As a researcher studying the cryptocurrency market, I find myself optimistic about Bitcoin’s current position. The market dynamics and underlying fundamentals suggest that we are witnessing an improvement compared to previous periods.

Nevertheless, the $63,000 and 200 SMA $63,900 price levels are important to watch for Bitcoin moving forward. 

Analyst Who Predicted The Bitcoin Rally Reveals Time To Sell

Read More

Sorry. No data so far.

2024-09-21 23:10