Key Indicator: Bitcoin and Other Top Cryptos Are Printing “Perfect Sell Setups”

After plunging last week, the Bitcoin market has mounted a hefty recovery over the past week. The leading crypto asset traded as high as $9,700 on Saturday evening — just a few percentage points shy of the monthly high.

Ethereum has fared even better, with the asset pushing 10% higher within a 24-hour time period this weekend.

This recovery has convinced many traders that the crypto market is on the verge of a full-fledged bull run, but a key indicator is suggesting a “perfect sell setup” has formed.

Bitcoin & Top Altcoins Form “Perfect Sell Setup”

One prominent trader recently shared the image below, showing that top cryptocurrencies such as Bitcoin, Ethereum, and Chainlink are printing “perfect sell setups.”

“Even though some of [the assets are] on perfected sell setups, most [will see] new weekly highs, but TD says 80% of the market is toppy by next week! The list is long — I can’t fit them all in one chart,” said the analyst that shared these charts.

Charts of…