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Bitcoin Faces Sell Signal That Preceded Past Crashes

  • 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.

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