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.
Note
Note
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.