BITCOIN goes Bearish after Death Cross#BITCOIN Daily Chart Analysis
As per daily chart pattern, estimated #DeathCross will be happening up to 12-15 September and if it will be happening then Market goes in Deep #BearishZone for next 70-100 days and Bullish Trend starts late around 15-25 Nov. 2023.
A "death cross" occurs when the 50-day moving average (50MA) crosses under the 200-day moving average (200MA). It's always a bearish sign, that indicating that the market may be heading toward a longer-term of downtrend or bear market.
Always #DYOR before investing in Crypto-Currency in this Volatile situation, and Trade wisely by using #StopLoss.... It's a #NFA.
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BITCOIN - Death Cross ComingAs per #Bitcoin Daily Chart Analysis...
Bitcoin, might be on track for its major "death cross" in 2023 into September next week.
Bitcoin's daily chart is set to print what is regarded as a "death cross," a bearish chart pattern, for the first time since January 2022. Notably, this would be the first occurrence of this type on the daily chart in 2023, with the weekly chart painting a death cross earlier this year in February 2023.
Bitcoin's daily moving MA 50 is set to cross beneath its moving average MA 200, which would yield the dreaded death cross pattern. It should be recalled that Bitcoin painted a golden cross on its daily chart in February of this year, preceding its rise to highs above $31,000 in April.
Bitcoin's death cross is expected to occur in the coming days but probably next week, and analysts are already paying keen attention to the impending crossover.
Death crosses, on the other hand, should not be considered an ultimate signal, as some experts refer to them as a lagging indicator. Furthermore, experience has shown that the Bitcoin death cross is unreliable as a solo signal.
Bitcoin extended its declines after the Securities and Exchange Commission delayed its decision on all spot Bitcoin exchange-traded fund (ETF) applications. Today, the leading cryptocurrency fell to lows of $25,528 last seen in mid-June of this year before slightly rebounding.
At posting time, CRYPTOCAP:BTC was marginally down 0.37% in the last 24 hours to $25,695.
Always #DYOR and Trade wisely by using of # Stoploss, It's #NFA
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