The price of Bitcoin (BTC) is currently displaying two conflicting signals, leaving investors wondering which way it will swing. Crypto analyst Ali Martinez has shared his insights on the matter, highlighting both a potential price increase and a possible drop.

On one hand, Martinez notes that Bitcoin has formed an asymmetric triangle on the 4-hour chart, which could lead to a price jump to $74,400 if the cryptocurrency closes above the $69,330 resistance level. However, if the price falls to support, a significant correction may follow.

On the other hand, Martinez points out that the Tom DeMark (TD) sequence has shown a sell signal, which could drop BTC to $68,050. Again, the analyst emphasizes that the token's next direction depends on the resistance level.

To further support his predictions, Martinez examines on-chain data, including the CDD metric, which measures long-term cryptocurrency movements. If CDD is high, BTC can become extremely volatile, leading to a price drop. However, at the time of writing, CDD had dropped to 4.55 million, indicating that long-term cryptocurrencies are not moving, and participants are holding. This scenario could lead to the predicted $74,400 rise.

The analyst also consults the liquidation heat map, which reveals high liquidity levels at $70,300 and $74,500. If the price rises to these levels, it could lead to a breakout towards $74,500. However, if the uptrend is rejected, Bitcoin could fall to $65,050.

In conclusion, Martinez believes that based on the analyzed data and metrics, BTC seems likely to rise above $74,000. While there are conflicting signals, the analyst's insights provide valuable guidance for investors navigating the crypto market.