TD9 sell signal flashes on the daily chart; Bitcoin eyes 64 tonight as a potential bottom
Bitcoin has now flashed a TD9 sell signal on the daily chart. Keep an eye on the 64 level on the five-day moving average. The final dip often goes a little deeper, so a test of 64 tonight will most likely mark the bottom of this cycle. There’s no reason to panic unless it breaks below that level. Ethereum is currently at $1,922.05, and Solana at $78.34. As Bitcoin tested the bottom, funds didn’t flee en masse from either of the two major chains—the market hasn’t descended into total chaos.
I’m inclined to think this is a second bottoming attempt after institutional shakeouts. If there’s still no major rebound next week, then my read will have been wrong. The sharper the drop, the stronger and quicker the rebound. Most of the selling now is coming from shaky-handed holders shifting their positions. Sector rotation is only just beginning, and once Bitcoin stabilizes, Ethereum and Solana may be the first to get back on their feet. The direction of funds should become clearer this weekend.
Tonight, the key is whether it breaks below 64. If it does, then we can talk about the next target; if it holds, that’s the starting point for a rebound. Don’t short at a critical level—wait for a signal before making a move. 🐶 Let’s go take a look at Lao Ma’s puppy ✨🚀
Bitcoin has now flashed a TD9 sell signal on the daily chart. Keep an eye on the 64 level on the five-day moving average. The final dip often goes a little deeper, so a test of 64 tonight will most likely mark the bottom of this cycle. There’s no reason to panic unless it breaks below that level. Ethereum is currently at $1,922.05, and Solana at $78.34. As Bitcoin tested the bottom, funds didn’t flee en masse from either of the two major chains—the market hasn’t descended into total chaos.
I’m inclined to think this is a second bottoming attempt after institutional shakeouts. If there’s still no major rebound next week, then my read will have been wrong. The sharper the drop, the stronger and quicker the rebound. Most of the selling now is coming from shaky-handed holders shifting their positions. Sector rotation is only just beginning, and once Bitcoin stabilizes, Ethereum and Solana may be the first to get back on their feet. The direction of funds should become clearer this weekend.
Tonight, the key is whether it breaks below 64. If it does, then we can talk about the next target; if it holds, that’s the starting point for a rebound. Don’t short at a critical level—wait for a signal before making a move. 🐶 Let’s go take a look at Lao Ma’s puppy ✨🚀
