The cryptocurrency market had a quiet weekend as the top two assets by market cap, Bitcoin and Ethereum, continued consolidating. Still, a significant price movement appears to brew.
Bitcoin and Ethereum Primed for Volatility
Bitcoin and Ethereum remained stagnant over the weekend, but a few indicators suggest that volatility is about to resume.
BTC is stuck in a tight price range between $21,500 and $21,000 while ETH continues to trade between $1,250 and $1,190. Both cryptocurrencies have seen their prices squeeze in the last few days as the market sentiment remains in “extreme fear.” Interestingly, a particular technical indicator hints at the probability of a downswing.
The Tom DeMark (TD) Sequential indicator recently presented sell signals on Bitcoin and Ethereum’s nine-hour chart. The bearish formations developed as green nine candlesticks, indicative of one to four candlesticks correction. Although BTC and ETH took a brief nosedive after the technical development, there hasn’...
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