BTC.X: Bearish Death Cross Approaching
The left panel shows daily 50ma and 200ma approaching to form a death cross sometime in August. Last time we saw a death cross during a bull market reversal was in 2022 and prices dropped nearly ~70%. With current integration of Bitcoin in financial markets, we estimate to retest the trendline forming since lows of 2019 at 37k sometime in 2025, with a conservative estimate of 50% downturn from current prices.
Nota
Nota
back to 55k and soon to break below 50k toward 45k
Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Penafian
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