Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

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In just 48 hours, Ethereum rocketed over 50% from $770 to roughly $1140 at last night’s overnight high. The massive Sunday candle was the lead up to a sell signal forming on daily timeframes.

Was this latest push higher the last impulse in Ethereum’s bull trend? Or like Bitcoin, will this sell signal fail, and the top-ranked Bear

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market, but since Bitcoin turned bullish, the tool has been less effective for calling tops or bottoms. Will the formerly flawless trend change predictor fail at calling a reversal in Ethereum, just as it did for the first-ever cryptocurrency?

ethereum td sequential sell setup

A perfected TD 9 sell setup has appeared at the recent daily high | Source: ETHUSD on TradingView.com

Could The Once Flawless Sell Setup Fail Again, As It Did With Bitcoin?

On daily timeframes, the TD Sequential indicator has lit up with a “9” sell setup. After a specific sequence of candles forming an uptrend, the “9” appears signaling that a reversal is likely. Things can, however, keep going, which will result in a countdown to “13” – which says the trend by at that point should be fully exhausted.

The indicator’s creator Thomas Demark has a reputation for mastering the timing of markets but has dead wrong recently when predicting Bitcoin would reverse.

Demark’s “model” perfectly predicted the 2017 and 2019 “tops” along with the December 2018 Altcoin

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will select.

Featured image from Deposit Photos, Charts from TradingView.com