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Analysis

Is a Bitcoin Correction Coming? If so, look for these 3 signs before the correction

Cryptocurrency media Cointelegraph shared three signals that could signal a bitcoin correction. "First, the Tom-Demark Sequential Indicator (TD Sequential Indicator), a popular indicator for predicting BTC trend reversals, has issued a sell signal on the 12-hour timeframe. Since the beginning of...

Is a Bitcoin Correction Coming? If so, look for these 3 signs before the correction

Cryptocurrency media Cointelegraph shared three signals that could signal a bitcoin correction. "First, the Tom-Demark Sequential Indicator (TD Sequential Indicator), a popular indicator for predicting BTC trend reversals, has issued a sell signal on the 12-hour timeframe. Since the beginning of February, every time the indicator has given a sell signal, BTC prices have fallen by up to 3.5%. Second, the price of bitcoin is overheating. According to CryptoQuant's analysis, miners' profitability has reached its highest level since December 2023, and traders' unrealized profit margin has reached 57%. This has historically led to corrections, which could increase selling pressure from short-term holders. Finally, bitcoin's RSI indicator shows that it is overbought. BTC's RSI is 89.2, 79, 72, and 70 on the weekly, daily, 12-hour, and 4-hour timeframes, respectively. When it is overbought, a correction is usually expected in the near future.

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