RATE Group | Indicator Prints Massive Bitcoin Buying Signal, Price May Resume Uptrend
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Indicator Prints Massive Bitcoin Buying Signal, Price May Resume Uptrend

23 Oct Indicator Prints Massive Bitcoin Buying Signal, Price May Resume Uptrend

Posted at 12:11h in Bitcoin News by

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A popular indicator used by cryptocurrency traders has just printed a massive “buy” signal for Bitcoin.

As pointed out by analyst Moe Mentum, the TD (Tom Demark) Sequential, a time-based indicator used to signal trends, recently printed a massive “buy nine” for Bitcoin’s one-week chart.

NewsBTC observed the same trend when it applied the TD Sequential to its TradingView chart.

Nines, with the TD Sequential, are seen as key reversal points. Indeed, the last time BTC saw a buy nine on its weekly chart in July of 2018, a two-week surge of $3,000 followed soon thereafter.

It is important to note, however, that the weekly candle has yet to close. For this bullish signal to be confirmed, Bitcoin will have to close on Sunday at a similar level to what is being seen now.

Related Reading: Crypto Analyst Calls As Low As $300 Bitcoin, Cites Lack of Demand

Bullish Bitcoin Signs Abound

The strong “buy” signal printed by the TD Sequential isn’t the only thing that likely has bulls…

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