Buying signals on Bitcoin and Ethereum could end the sideways trend suddenly


While the rest of the crypto market is booming, Bitcoin and Ethereum have a sideways trend. The tightening of prices caused boredom and recorded low volatility.

But a buy signal on each of these two most dominant crypto assets could lead to a sudden change in trend and hopefully the end of that trading range.

Major Crypto Assets Trend Sideways While Smaller Altcoins Shine

The two largest cryptocurrencies by market capitalization have been the most stagnant of the group. Bitcoin and Ethereum looked more like a stablecoin than their explosively volatile old selves.

The unusual sideways price action of these two assets has pushed investors and traders to find opportunities in greener pastures.

Related reading | Historical bitcoin volatility approaching zero could signal a booming bull trend

Elsewhere in the crypto market, Chainlink set a new all-time high and several DeFi tokens have skyrocketed as this train evolves.

Almost all of the major crypto assets have seen positive movement, even the long underperforming cryptocurrency market like Ripple’s XRP and Stellar’s XLM.

Only Bitcoin and Ethereum, the two main market players and the most dominant crypto assets, behaved this way.

This could all change soon now that a buy pattern has appeared on today’s daily price chart on both assets.

Flawed TD 9 triggers on Bitcoin and Ethereum daily price charts

Although the number one and number two ranked cryptocurrencies trade sideways, there has been enough downside to trigger a buy setup on their USD trading pairs.

On BTCUSD and ETHUSD, the TD Sequential Indicator signals a 9 point and imperfect buy pattern.

Bitcoin BTCUSD TD Sequential 9 Buy | Source: TradingView

For the purchasing configuration to be perfect, today’s candle must set a lower low than yesterday’s low, pushing below $ 9,000.

A rise above around $ 9,250 would flip the series green and change the 9 to a 1 candle. A 1 candle signifies the start of a new streak.

Ethereum ETHUSD TD Sequential 9 Buy | Source: TradingView

For Ethereum to be perfect, the number one altcoin has to fall below $ 229 per ETH. A rise above $ 240 would turn the streak green and restart the streak.

It should be noted that just because the configuration is there does not necessarily guarantee follow-up. The indicator has been very accurate in cryptocurrency trading but is not 100% successful.

Related reading | Selling Signals On Ethereum And Others Could Mean Altcoin Season Is Over

Recently, the sell setups on these same major crypto assets have not resulted in any breach of the current trading range or side action. A sell signal also appeared before Chainklink broke new records – so anything is possible.

If Bitcoin and Ethereum shake any buy or sell signal again, the crypto market could experience an even longer period of stagnation. If this continues, small and mid-cap altcoins may continue to outperform.


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