Crypto trader Ali Martinez believes that Shiba Inu (SHIB), the second-largest memecoin by market cap, could experience a rally based on the readings of the Tom Demark (TD) Sequential indicator. Martinez, who has a significant following of 31,600 followers on the social media platform X, suggests that the TD Sequential indicator is signaling a potential long opportunity for SHIB on the weekly chart. This indicator is used by traders to predict potential trend reversals based on the closing prices of the 13 previous bars or candles.
According to Martinez, the last two bullish signals on Shiba Inu from the TD Sequential indicator resulted in SHIB experiencing rallies of “118% and 71% respectively.” These significant gains highlight the importance of paying attention to this indicator when trading SHIB. Martinez points out that given the infrequency yet precision of such signals, it is a pivotal moment to closely monitor SHIB’s price movements.
Shiba Inu is currently valued at $0.00000738 at the time of writing.
In addition to analyzing Shiba Inu, Martinez also provides insights on Bitcoin (BTC). Using the UTXO Realized Price Distribution (URPD) model, Martinez indicates that BTC has built a massive support barrier between $25,000 and $30,000. This model tracks the number of existing coins that last moved within a given price range. According to Martinez, the URPD model suggests that BTC’s next two critical areas of resistance are at $38,440 and $47,360.
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This analysis provides traders and investors with valuable information about potential resistance levels for Bitcoin. By understanding these levels, market participants can make informed decisions about their BTC holdings and future trading strategies.
Bitcoin is currently trading at $34,140 at the time of writing.
It’s essential for market participants to stay up to date with the latest developments and news in the cryptocurrency market. Subscribing to email alerts or following reputable sources on platforms such as Twitter, Facebook, and Telegram can help traders access important information in real-time.
In addition to keeping up with the news, monitoring price action is crucial for successful trading. By studying and analyzing price movements, traders can identify patterns and trends that can inform their investment decisions.
To stay informed, traders can check the latest news headlines on platforms such as the Daily Hodl. This allows them to access timely information and updates that can impact the cryptocurrency market.
However, it’s crucial to remember that the cryptocurrency market is highly volatile and risky. Before making any investment decisions, it’s essential for investors to conduct their due diligence and research. High-risk investments in Bitcoin, cryptocurrency, or digital assets should only be made after thorough analysis and consideration of personal risk tolerance.
Investors should also be aware that transfers and trades in the cryptocurrency market come with their own set of risks. Any losses incurred are the responsibility of the investor. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets and is not an investment advisor. It’s important for individuals to make their investment decisions based on their own judgment and risk tolerance.
In conclusion, Ali Martinez’s analysis suggests that Shiba Inu has the potential for a rally based on the TD Sequential indicator, while Bitcoin’s UTXO Realized Price Distribution model indicates key resistance levels. Traders and investors should stay informed about the latest news and price action, conduct thorough research, and exercise caution when trading or investing in cryptocurrencies.
