The global cryptocurrency market cap today stands at $2.36 trillion, marking a 2.6% decline in the last 24 hours. Amidst these market fluctuations, Bitcoin’s (BTC) attempt at recovery has been met with mixed signals from technical indicators, raising investor concerns.
Trading expert Alan Santana recently projected on TradingView that Bitcoin is on the brink of experiencing a significant downturn, known as an SD-Wave or an SSD-Wave.
An SD-Wave, or Super-Down-Wave, typically results in a price decline of around 20-30%. Conversely, an SSD-Wave, or Surprise-Super-Down-Wave, involves a more severe drop, potentially exceeding 40% and reaching up to 50%.
Current chart analyses indicate a higher likelihood of an SSD-Wave, prompting caution among investors.
Bitcoin price analysis chart. Source: Alan Santana /TradingView
The BTC/USD chart reveals a notable decline in trading volume over the past four months, signaling weakening buying momentum, which often precedes a significan
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