Is Bitcoin in Trouble? Understanding the Weekly Death Cross Pattern By DailyCoin
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Is Bitcoin in Trouble? Understanding the Weekly Death Cross Pattern
- The weekly price chart of has shown a bearish technical pattern, as the 50-week simple moving average has crossed under the 200-week SMA.
- Some analysts believe the 50-week moving average acts as valid resistance, intensifying the selling.
- Others do not consider the death cross a reliable indicator, as it is based on backward-looking moving averages and lags prices.
Bitcoin faces a new challenge as the market sees a weekly “death cross” printed on the charts. The timing seems to favor the bears as the asset experienced a nearly 5% drop last week, but is Bitcoin really in danger of crashing again?
https://twitter.com/Pentosh1/status/1632421604452868099
For the second week in a row, Bitcoin is encountering a sell wall at the 50-week SMA. Despite this, analysts have had varying opinions on what the…
Continue Reading on DailyCoin
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Is Bitcoin in Trouble? Understanding the Weekly Death Cross Pattern
- The weekly price chart of has shown a bearish technical pattern, as the 50-week simple moving average has crossed under the 200-week SMA.
- Some analysts believe the 50-week moving average acts as valid resistance, intensifying the selling.
- Others do not consider the death cross a reliable indicator, as it is based on backward-looking moving averages and lags prices.
Bitcoin faces a new challenge as the market sees a weekly “death cross” printed on the charts. The timing seems to favor the bears as the asset experienced a nearly 5% drop last week, but is Bitcoin really in danger of crashing again?
https://twitter.com/Pentosh1/status/1632421604452868099
For the second week in a row, Bitcoin is encountering a sell wall at the 50-week SMA. Despite this, analysts have had varying opinions on what the…
Continue Reading on DailyCoin
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