TD Sequential Flashes 9, Hinting at a Drop for Stocks & Bitcoin Price

The U.S. stock market is at a major pivotal point as a TD9 sell indicator has lit up while the Dow Jones remains at the 0.618 Fibonnaci level. There is a strong possibility that a pullback of equities would translate to increased selling pressure on Bitcoin.

Fibonacci and TD9: a brutal combination for predicting corrective phases

The TD sequential is an indicator that identifies a turning point in the price trend of an asset or an index. Essentially, on any time frame, if the chart of an asset shows nine consecutive candles above or below the closure of four candles prior, then it prints a TD9.

For instance, in 2018, a TD sequential chart by Tone Vays showed the Bitcoin price flashing nine consecutive candles on a 4-hour chart that was above the closure of four candles before the nine candles. Since the price increased, it indicated a TD9 sell signal.

Tone Vays’ TD Sequential Bitcoin chart. Source: Hackernoon

Currently, the Dow Jones Industrial Average (DJIA) is similarly showing a…