$BTC triggered a TD9 setup on the monthly for the first time since July 2022.
Worth sitting with.
TD9 fires when nine candles close lower than the close four candles prior.
Not a buy signal alone. Last time this fired, BTC took five more months to actually bottom.
Context that tempers it: consensus still leans toward new lows first.
$55K is a popular target. Cycle comparisons put this bear market around two-thirds done.
RSI divergence is the stronger signal right now.
Bullish divergence with oversold RSI is showing up across multiple timeframes at once.
Traders are calling it one of the strongest confluences they've seen.
One signal says exhaustion. Sentiment says not yet… which one moves first?
Worth sitting with.
TD9 fires when nine candles close lower than the close four candles prior.
Not a buy signal alone. Last time this fired, BTC took five more months to actually bottom.
Context that tempers it: consensus still leans toward new lows first.
$55K is a popular target. Cycle comparisons put this bear market around two-thirds done.
RSI divergence is the stronger signal right now.
Bullish divergence with oversold RSI is showing up across multiple timeframes at once.
Traders are calling it one of the strongest confluences they've seen.
One signal says exhaustion. Sentiment says not yet… which one moves first?