The TD9 indicator tends to be accurate on high time frames because it requires 13 candles to close within a certain structure. Since then, the Dow rallied by more than 27 percent in a single month. The last time the Dow Jones saw a TD9 on a high time frame was on the daily chart on March 18 as a buy signal. On higher time frames, the TD9 signal tends to be highly accurate. TD9 has been accurate for both Bitcoin and Dow in 2020 With two widely adopted technical indicators pointing toward the resumption of a bearish trend for the Dow Jones, the Bitcoin price could see a retest of the $4,000 to $5,000 range in the near-term if the frantic sell-off of major asset classes continue. The Dow is slightly below the 0.618 Fibonacci level, which could mean that there is an overhead resistance that may temporarily halt the recovery of the U.S. It typically decides whether an asset or an index like Bitcoin or the Dow remains in a downtrend or breaks out to see an extended rally. In a Fibonacci system, the 0.618 level indicates a reversal point in a price range. The most recent TD9 of the Dow Jones could be considered as a stronger sell signal than a normal TD9 because it is complemented with an overhanging resistance in a Fibonacci Retracement. This would indicate that selling pressure is mounting and it is portraying early signs of a potential reversal to see a bearish retest of recent lows.ĭow Jones Industrial Average 4-hour chart prints TD9. On higher time frame charts, it is still not demonstrating a clear TD9 sell signal. Source: HackernoonĬurrently, the Dow Jones Industrial Average (DJIA) is similarly showing a TD9 on the 4-hour chart. Since the price increased, it indicated a TD9 sell signal. Essentially, on any time frame, if the chart of an asset shows nine consecutive candles above or below the closure of four candles prior, then it prints a TD9.įor instance, in 2018, a TD sequential chart by Tone Vays showed the Bitcoin price flashing nine consecutive candles on a 4-hour chart that was above the closure of four candles before the nine candles. The TD sequential is an indicator that identifies a turning point in the price trend of an asset or an index. Fibonacci and TD9: a brutal combination for predicting corrective phases There is a strong possibility that a pullback of equities would translate to increased selling pressure on Bitcoin. stock market is at a major pivotal point as a TD9 sell indicator has lit up while the Dow Jones remains at the 0.618 Fibonnaci level. stock market is at a major pivotal point as the TD Sequential indicator has lit up, suggesting a possible sell off in major markets and correlated assets like Bitcoin. After that, he predicts BTC will correct to $7,450 or $7,200.The U.S. Vays says he’s expecting BTC’s current rally will continue until it hits that barrier at $8,000. What do I think is going to happen? What I think is going to happen is we’re going to get rejected by this monster. This is the ultimate resistance and it’s not that further off. And PlanB has some very optimistic targets.įor all we know, John McAfee could be right with his $500,000 target. “The moment we break above this red line PlanB is going to be right. Vays also points to John McAfee’s infamous bet that BTC will hit $500,000 this year. If that happens, Vays says the highly discussed stock-to-flow model from the anonymous analyst PlanB – which forecasts that BTC will hit anywhere from $100,000 to $288,000 by 2024 – will suddenly be on the table. If Bitcoin can make it to $9,000, Vays says the last line of resistance is a descending triangle that currently stands at $9,500. “Can we make it to ? Anything is possible… The biggest reason why that’s a little too optimistic is this behemoth of triple resistance of the 128-day moving average, the 200-day moving average and a fibonacci 62% line. But despite the bullish indicator, Vays says he’s not betting on this coming to fruition due to a strong line of resistance at $8,000.
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