Famous analyst Ali Martinez issued a cautionary statement regarding Bitcoin in his most recent analysis. Martinez highlighted the TD Sequential indicator, known for tracking trend reversals, which indicated a bearish signal on the hourly BTC chart. He suggested that this signal could lead to a decline to $68,700 or $68,050 on the four-hour chart. Despite this bearish outlook, Martinez mentioned a key resistance level at $69,330, noting that consistently surpassing this level might propel Bitcoin into a bullish trend. In the bullish scenario, BTC's price could potentially break out of a symmetrical triangle, with a successful breach of the resistance possibly driving the price towards $74,400.
Shifting the focus to altcoins, Martinez discussed notable occurrences within the Toncoin (TON) ecosystem. Within the past 24 hours, transactions involving Toncoin exceeding $100,000 surged by 237.5%. Martinez speculated that this surge may reflect changes in the activities of TON whales.
Please note that the information provided is for analysis purposes only and does not constitute investment advice.
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