Bitcoin Price Melting! Death Cross Coming?

“Is the Death Cross coming?” as Bitcoin price drops below $46,500. questions come up. Bitcoin (BTC) lost strength as the week began, falling below $46,500, while Ethereum traded below $4,000. Detail cryptocoin.com‘in.

Where is the Bitcoin price?

Bitcoin price is closing below the 200-period daily average. There is one important move that traders who trade only from a technical analysis perspective, ignoring the Bitcoin fundamentals, should pay attention to. The point is that the vital long-term support, the BTC 200-day moving average, is now gone. So, it could be that 2021 closes with a downtrend, this still depends on a market assessment for the next 10 trading days. Such a scenario is a warning to those who believe in $100,000 Bitcoin this year, which is becoming more and more of a distant prediction.

btc daily

The death cross is a technical graphic pattern that shows a huge sales potential. The death cross appears on a chart when the short-term moving average falls below the long-term moving average. Typically, the most common moving averages used in this pattern are the 50-day and 200-day moving averages. However, the 50-day moving average is still a long way off, with BTC looking far from a new “Death Cross”. Bitcoin is trading at $46,195, down 2% on the first day of the week. The market is entering the week with extreme fear, according to the Fear and Greed indicator. The extreme fear shows that investors are insecure and reluctant to invest, but it can also be a buying opportunity for those who believe in long-term crypto assets. The last week before Christmas can be a moment of concern for traders who closely monitor the possible downtrend in the market’s biggest digital currency and could easily push all altcoins down.

Death Cross Seen in Bitcoin!  Will History Repeat?

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