Bitcoin Hovering at Critical Juncture, According to Macro Guru Raoul Pal – Here’s Why

Bitcoin Hovering at Critical Juncture, According to Macro Guru Raoul Pal – Here’s Why


Former Goldman Sachs executive Raoul Pal says Bitcoin is currently trading at a highly critical juncture weeks after the leading crypto asset plunged to a yearly low of $30,681.

In a new tweet, the macro guru tells his 552,700 followers that BTC is flashing signals indicating that a reversal is on the horizon. According to Pal, Bitcoin risks extending its corrective period if it fails to confirm the signal.

 

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“I find DeMark Indicators work well for me for assessing probabilities. The weekly 9 on the log trend line in BTC feels about the right chance of a reversal higher. If this fails over a few weeks (lower odds), it will lead to much longer pain. Let’s see…”

Source: Raoul Pal/Twitter

Pal is using the DeMark indicator to time entry and exit opportunities. When the DeMark sequential indicator flashes a reading of 9, traders take it as a sign that a trend reversal could be in sight.

The Global

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