- Bitcoin surged past $69,000 during the Asian market open, highlighting a significant upward trend.
- The TD Sequential indicator signals a potential short-term correction for Bitcoin despite its recent bullish trend.
- Bitcoin’s upward trend is supported by a moving average, indicating overall bullish sentiment despite a brief expected pullback.
Bitcoin (BTC) recently surged past the $69,000 mark during the Asian market open, trading at approximately $69,479.3 with a notable 1.85% increase. This price movement highlights a significant upward trend, indicating a recovery from previous lows. However, the TD Sequential indicator now signals a potential short-term correction, which might temporarily pause the bullish momentum.
Crypto Busy, a chart expert on X, recently shared insights into Bitcoin’s price action. The 4-hour timeframe chart on TradingView shows Bitcoin breaking above the critical resistance level of $70,153.65, trading around $70,156.40.
The upward movement signifies a strong recovery from the previous downtrend. Additionally, the chart identifies a support level around $67,896.50, where Bitcoin had previously bounced. This movement suggests positive market sentiment, particularly influenced by trading activities during the Asian market open.
Another analyst, Ali Martinez, noted the TD Sequential “9” sell signal on Bitcoin’s hourly chart. This indicator traditionally signals a potential reversal or brief correction. The chart shows a green “9” candle marked with a downward red arrow, indicating the sell signal. Despite the current bullish trend, this signal suggests a short-term pause or pullback in Bitcoin’s upward momentum. The recent candlesticks display a mix of bullish and bearish trends, reflecting some market indecision.
At press time, Bitcoin is trading at approximately $67,878.3, showing a 1.85% increase from the previous period. The 24-hour trading volume stands at $21,033,581,177, representing a 2.56% price increase in the last 24 hours and a 3.22% increase over the past seven days. With a circulating supply of 20 million BTC, Bitcoin’s market cap is valued at $1,374,157,129,455. The chart includes a moving average line trending upwards, indicating that the overall trend remains bullish despite the short-term sell signal from the TD Sequential indicator.
