TD9 Setup Indicates Bitcoin May Take Four Years to Reach $149,490
Crypto analyst Tony Severino indicates that Bitcoin has closed the quarterly chart with a TD9 sell setup, suggesting a prolonged timeline before reaching significant price targets.
- Bitcoin's recent daily candles showed mild upward pressure, attributed to positive sentiment from technical analyses.
- The TD9 setup projects a potential price target of $149,490 for Bitcoin, which could take up to four years to achieve.
- Historical instances of the TD9 setup in 2014 and 2017 indicate long timelines before reaching projected levels.
- Currently, Bitcoin is trading at $109,330, up 2% in the last 24 hours, and approximately 36% away from the target.
- If the TD9 Risk timeline holds, Bitcoin may not reach the target until around July 2029.
In the past week, Bitcoin rose approximately 1.5%, testing resistance between $108,200 and $108,800 before pushing higher.
