A widely followed crypto analyst says that a bullish signal is flashing for Bitcoin (BTC<\/a>) after declining this month.<\/p>\n Crypto trader Ali Martinez tells<\/a> his 30,400 followers on the social media platform X that Bitcoin could bounce more than 8% from its current value if the king crypto stays above a key price level.<\/p>\n \u201cBitcoin: The TD (Tom DeMark) Sequential presented a buy signal on BTC three-day chart. A sustained close above $26,800 could pave the way for a surge to $28,000. However, a BTC dip below $25,300 would nullify this bullish scenario.\u201d<\/em><\/p>\n The Tom DeMark (TD) Sequential indicator traces a series of price points to signal possible trend reversals. Based on TD Sequential principles, a 13 count indicates a pause in the current trend, a pullback, or a reversal. A point of reversal is indicated when nine consecutive candles close lower than the candles of four periods earlier.<\/p>\n Bitcoin is trading for $25,862 at time of writing, up 0.3% in the last 24 hours.<\/p>\n The trader also noticed<\/a> that thousands of BTCs were sent to crypto exchanges, which could indicate Bitcoin selling may increase.<\/p>\n \u201cBitcoin: Roughly 5,000 BTC have been sent to crypto exchanges within the last 24 hours, worth around $128.5 million.\u201d<\/em><\/p>\n Next, the trader warns<\/a> that smart contract platform Ethereum (ETH<\/a>) may see a severe market correction if it fails to hold a key price level. He bases his risk assessment on the number of ETH holders in profit or loss at certain price levels.<\/p>\n \u201cEthereum below $1,680 is a cause for concern, as it may pave the way for a significant ETH correction down to $1,200.\u201d<\/em><\/p>\n Ethereum is trading for $1,628 at time of writing, down 0.1% in the last 24 hours.<\/p>\n The trader also noticed<\/a> that crypto whales are selling off huge amounts of ETH rival Cardano (ADA<\/a>).<\/p>\n \u201cCardano whales have sold or redistributed roughly 1.02 billion ADA over the past week, worth around $265 million.\u201d<\/em><\/p>\n Cardano is trading for $0.25 at time of writing, down 0.1% in the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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