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Dreaded Bitcoin Indicator That Crashed Price To $3.1K Returns

Janelle Fox

Summary: Despite Bitcoin’s (BTC) recent bullish run, a dreaded technical indicator is giving an alarming view of the bitcoin market. The coins latest price cycle bears a striking resemblance to the aptly named Death Cross, a technical pattern that crashed BTC’s price all the way down to $3,120 in late 2018. The Death Cross occurs when ...

Despite Bitcoin’s (BTC) recent bullish run, a dreaded technical indicator is giving an alarming view of the bitcoin market.

The coins latest price cycle bears a striking resemblance to the aptly named Death Cross, a technical pattern that crashed BTC’s price all the way down to $3,120 in late 2018.

The Death Cross occurs when BTC’s long-term moving average closes under its near-term moving average, then BTC’s long-term moving average struggles to rise back above its near-term moving average, causing the value of the coin to plummet.

By Janelle Fox

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Link: Dreaded Bitcoin Indicator That Crashed Price To $3.1K Returns   [Copy]
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