RATE Group | The Indicator That Nailed Bitcoin’s $14,000 Top is Warning of a Plunge
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The Indicator That Nailed Bitcoin’s $14,000 Top is Warning of a Plunge

11 Feb The Indicator That Nailed Bitcoin’s $14,000 Top is Warning of a Plunge

Posted at 02:31h in Bitcoin News by

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After days and days of an uptrend, Bitcoin has finally started to retrace over the past couple of hours.

The price of the leading cryptocurrency is now at $9,800 — just under 4% shy of the $10,200 local top put in on Sunday, which lines up with a key resistance.

Related Reading: Ripple’s XRP Makes “Huge” Achievement, Setting Stage for Strong Price Surge

While many traders remain bullish on Bitcoin, a key indicator that nailed BTC’s $14,000 top in June 2019 suggests that bears may continue to assert control over the crypto market in the coming days, meaning a stronger pullback will take place.

Bitcoin’s 50% Rally Might Have Ended… for Now

As reported by NewsBTC previously, Thomas Thorntown of Hedge Fund Telemetry recently warned that a “13” candle was being formed by the Tom Demark Sequential and Countdown indicator.

For those unaware, the TD Sequential is a  time-based indicator most often used in the cryptocurrency markets that prints “9” and “13” candles at…

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