<ul data-eligibleForWebStory="false">The Tom DeMark (TD) Sequential technical tool, known for signaling trend reversals, has indicated a potential sell signal for Bitcoin.Similar indicators appeared before major Bitcoin crashes in 2015 and 2018, leading to drawdowns of over 75% in both instances.If history repeats, Bitcoin could see a more than 60% drop from its current price, potentially falling below $40,000.On-chain data shows a significant decrease in large-scale Bitcoin transactions and net demand, hinting at a possible downward movement for Bitcoin.