Will this time be different? Bitcoin eyes drop to $35K as BTC price paints ‘death cross’ By Cointelegraph



© Reuters.

(BTC) formed a trading pattern on Jan. 8 that is widely watched by traditional chartists for its ability to anticipate further losses.

In detail, the cryptocurrency’s 50-day exponential moving average (50-day EMA) fell below its 200-day exponential moving average (200-day EMA), forming a so-called “death cross.” The pattern appeared as Bitcoin underwent a rough ride in the previous two months, falling over 40% from its record high of $69,000.

daily price chart. Source: TradingView
BTC/USD daily price chart featuring March 2020 death cross. Source: TradingView
BTC/USD daily price chart featuring death cross. Source: TradingView
BTC/USD daily price chart featuring Fib retracement levels. Source: TradingView