Bitcoin has gone through a significant bullish movement that has seen its price rise 190 percent since the low of Dec. 15, 2018, when it was trading at $3,130. Now that it has been struggling to break $9000, BTC could be preparing for a downturn.
TD Sequential Indicator is on a green nine, which is a sell signal, predicting one to four weeks of downside before the continuation of the trend. The bearish signal comes after bitcoin reached the setup trendline at around $9,000 and found strong rejection around this area. The current candle is preceded by a reversal candlestick, which adds credibility to a possible retrace.