Potential Death Cross
By Thursaday or Friday at the latest, I see a potential death cross forming as the 50 MA could pass down over the 200 MA on the 3 hour chart. I used the 3 hour because it seems to be the most accurate for me looking back at past performances. This next dump could be triggered between the prices of $6750 and $6880. For those unfamiliar with a death cross, a death cross occurs when a 50 day moving average crosses down over the 200 day moving average. The convergence triggers a large volume sell off as well as confirm a bear market. In previous publishings, I have multiple times tagged potential price targets.
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