It’s not a bird, and although it’s been soaring, it isn’t a plane either. It’s Bitcoin and the latest bull run just hit its first wall after over an entire year in an uptrend.
The rally was stopped by a “Super” sell signal acting as dynamic resistance, leaving BTC potentially in danger of reversal.
Bitcoin Braces For The Worst After Reaching Downtrend Resistance
Bitcoin price has given buy signals galore since reached a bottom in late 2022. Throughout 2023, BTCUSD rallied more than 300%. But despite the climb, on higher timeframes such as the monthly, sell signals remain intact.
One such signal exists on the 1M SuperTrend – a powerful trend-following technical indicator created by Olivier Seban. Using CME BTC Futures, there has only ever been one sell signal generated on the 1M timeframe, and it still stands despite BTCUSD smashing right into it this month.
Sell Signal Stands In The Way Of New Crypto ATHs
The SuperTrend marks a price chart with a dynamic support and resi
We współpracy z: https://bitcoinist.com/this-super-sell-signal-stands-in-the-way-of-the-bitcoin-bull-run/
