After brushing off short-term corrections caused by geopolitical tensions, Bitcoin (BTC) has surged to establish a consolidation phase above the $66,000 mark.
However, as crypto analyst Ali Martinez highlighted in an X (formerly Twitter) post on April 24, technical indicators are raising concerns for the maiden digital asset amidst the current price movement.
Martinez pointed to the TD Sequential indicator’s recent sell signal on the 12-hour chart, indicating a potential downturn in Bitcoin’s price trajectory. The analyst underscored the significance of this signal, particularly noting the resistance encountered by Bitcoin at the mid-level of a parallel channel.
Bitcoin price analysis chart. Source: TradingView/Ali_charts
The analyst warned investors to exercise caution, citing the historical accuracy of the TD Sequential indicator. He added that Bitcoin faces more vulnerability if it drops below the $65,000 support zone.
A breach of this support level could trigger
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