Crypto Analyst Ali Martinez Says Bitcoin (BTC) Is Gearing up to Bounce Back Based on One Key Indicator

In a new strategy session, crypto trader Ali Martinez tells his 66,600 on the social media platform X that the Tom DeMark (TD) Sequential indicator is flashing a buy signal on the crypto king's one-hour chart.

A popular crypto analyst says that Bitcoin (BTC) is preparing to make a move based on one key indicator.

During a recent strategy session, crypto trader Ali Martinez told his 66,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is showing a buy signal on the crypto king’s one-hour chart.

“The TD presents a buy signal on the Bitcoin one-hour chart, anticipating a rebound of one to four hourly candlesticks for BTC!”

The TD Sequential indicator is typically used by traders to identify potential points of reversal for an asset.

Martinez adds that historically, the top crypto asset by market cap has recovered in July after experiencing a rough month of June.

“Historically, when Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, BTC has shown an average return of 7.98% and a median return of 9.60% during this month.”

However, the analyst says that based on current futures positions, it’s possible that Bitcoin’s dip isn’t over yet.

“Bitcoin price action has been brutal, but only $280.9 million in longs have been liquidated and $25.4 in shorts. In the past, we have seen mass liquidation events of over $1 billion! This tells us either the BTC dip is not over yet or shorts are about to get obliterated.”

Bitcoin is trading at $57,534 at the time of writing, down 4.8% in the last 24 hours. On July 1st, it was trading at $63,322.

Featured Image: Shutterstock/arleksey/Sol Invictus

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