$BTC just triggered a TD9 setup on the monthly chart — first time since July 2022.
TD9 fires when nine consecutive candles close lower than the close four candles prior. It's not a buy signal by itself. Last time this happened, $BTC took another five months to actually bottom.
The context:
1. Consensus still leans toward new lows first. $55K is a popular target among traders.
2. Cycle comparisons suggest this bear market is roughly two-thirds done.
3. RSI divergence is the stronger signal right now. Bullish divergence with oversold RSI is showing up across multiple timeframes simultaneously — traders are calling it one of the strongest confluences they've seen in a while.
So we have two competing narratives: one technical signal says exhaustion, but sentiment says we're not there yet. The question is which one moves first.
TD9 fires when nine consecutive candles close lower than the close four candles prior. It's not a buy signal by itself. Last time this happened, $BTC took another five months to actually bottom.
The context:
1. Consensus still leans toward new lows first. $55K is a popular target among traders.
2. Cycle comparisons suggest this bear market is roughly two-thirds done.
3. RSI divergence is the stronger signal right now. Bullish divergence with oversold RSI is showing up across multiple timeframes simultaneously — traders are calling it one of the strongest confluences they've seen in a while.
So we have two competing narratives: one technical signal says exhaustion, but sentiment says we're not there yet. The question is which one moves first.