Crypto Trader Warns Bitcoin Faces Near-Term Correction Before Resuming Uptrend
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Crypto trader Ali Martinez warns Bitcoin will likely soon face a short correction, expecting a 12% pullback from $38K.
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Martinez uses the TD Sequential indicator showing a sell signal on weekly chart as Bitcoin nears resistance between $38.5K-$42K.
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He plans to buy the expected dip around $33K before uptrend resumes, with invalidation above $42.5K.
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Martinez notes miners selling huge Bitcoin amounts since late October, totaling 5,000 BTC worth $175M, adding downside pressure.
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At writing, Bitcoin trades at $37,377; Martinez won't touch his spot BTC until 2025 but may short futures.