 is showing a weekly TD Sequential buy signal, indicating a potential breakout. Analyst Ali Martinez says it must stay above $74,500 for continued upward momentum.){kind=link}
Bitcoin ($BTC) is presently displaying a weekly TD Sequential buy signal, according to analyst Ali Martinez, who has highlighted a favorable technical indication for the cryptocurrency.
According to this indication, a positive breakout for Bitcoin may be imminent. Martinez asserts that Bitcoin needs to remain above the $74,500 mark in order for the upward trend to continue.
Furthermore, a break above $82,000 would validate the bullish perspective and maybe lead to a rise in the direction of $88,000.
The prediction puts forth a bold expectation given that Bitcoin has seen a bloodbath in the past week. At the press time, the OG-crypto is trading at $79,653.52, up 3.98% but down from the expected support price of $80K.
Martinez Eyes $88K As Next Level For Bitcoin
If the price levels are maintained at $74K and $82K, the TD Sequential indicator, which is well-known for spotting possible trend reversals, supports the notion of a sustained upward trend.
$88,000 is the next important goal if Bitcoin breaks over these crucial resistance levels, which might pave the way for additional increases, notes Martinez.
Investors and traders will keep a careful eye on these levels in hopes of seeing evidence of a long-term bullish trend.
Also Read: Cboe Digital Seeks Regulatory Approval for New Bitcoin Futures Product Set to Launch on April 28
Bitcoin’s Drastic Fall In The Past Weeks
The price of Bitcoin ($BTC) has dropped precipitously over the last two weeks, losing a lot of value and alarming investors. The cryptocurrency experienced a sharp decline after peaking post-November 2024, falling below crucial support levels.
A number of issues, including increased market volatility due to the “Tariff War”, lack of positive cues, and unpredictability in the global financial landscape, contributed to the sell-off.
The downward pressure was exacerbated by investors dumping their positions due to fears of regulatory crackdowns and macroeconomic pressures.
Additionally, technical indications indicated waning momentum as Bitcoin was unable to sustain strong trends. Bitcoin had fallen below $75,500 near March 28th as a result of the decrease, which has further alarmed traders who were expecting steady growth.
Bitcoin’s long-term prospects are still bright, according to many experts, and the current decline may offer buying chances for investors hoping to profit from a future price recovery.
Bitcoin’s Technical Indicators Portray Mixed Signals
The market’s present optimistic and negative views are reflected in the mixed signals displayed by Bitcoin’s technical indicators. A purchase signal was just flashed by the TD Sequential indicator, indicating possible upward momentum.
However, recent price drops have raised questions about Bitcoin’s short-term trajectory, as it has struggled to maintain above important support levels like $74,500.
Uncertainty is indicated by other indicators, such as moving averages, which exhibit signals of consolidation.
Bitcoin’s current RSI (Relative Strength Index) is indicating a neutral to oversold condition standing currently at 41, suggesting potential for a price rebound if it moves above key support levels.
In order to predict Bitcoin’s future move, traders are keeping a careful eye on these levels.