Crypto trader Ali Martinez is warning that Bitcoin (BTC) will likely soon undergo a short-lived market correction.
Martinez tells his 32,300 followers on the social media platform X that he expects Bitcoin to pull back after nearing $38,000.
“Actually, a brief correction is brewing.”
The trader uses the Tom DeMark (TD) Sequential indicator to predict that Bitcoin could decline by nearly 12% from its current value.
“Bitcoin is nearing $40,000, and the crowd couldn’t be more excited. But one important rule in trading is that you cannot follow the herd. Although I’m not touching my spot BTC position until some time in 2025, I’m inclined to enter a short in the futures market.
Want to know why?
Well, the TD Sequential presents a