Bitcoin (BTC) is facing a potential decline, according to cryptocurrency analyst Ali Martinez. He highlighted that the TD Sequential indicator, which monitors trend reversals, has given a bearish signal on the hourly chart of BTC. Martinez suggested that this signal could lead to a drop in price to either $68,700 or $68,050 on the four-hour chart.
However, Martinez also pointed out that there is a resistance level at $69,330, and if this level is consistently surpassed, it could signal a shift to a bullish trend for Bitcoin. In this scenario, Martinez believes that Bitcoin may break out of a symmetrical triangle and potentially reach a price level of $74,400.
In addition, Martinez commented on the altcoin side, specifically noting interesting developments in the Toncoin (TON) ecosystem. He highlighted that Toncoin transactions over $100,000 have increased by 237.5% in the last 24 hours, suggesting a potential change in the activities of TON whales.
It is important to note that this information is not investment advice. To invest in over 300 cryptocurrencies, individuals can register with Binance exchange using this link to receive a 20% commission discount.
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