A crypto analyst has unveiled a new bearish death cross for Bitcoin (BTC), the world’s largest cryptocurrency. According to the analyst, Bitcoin is at risk of further price stalls before any potential upward movement.
Bitcoin Prints Another Bearish Death Cross
In an X (formerly Twitter) post on August 15, a crypto analyst identified as ‘Mags,’ shed light on Bitcoin’s recent price movements, emphasizing key pattern formations and the cryptocurrency’s future outlook. Sharing a chart illustrating Bitcoin’s price action from October 2023 to August 2024, Mags observed that BTC has printed a bearish death cross on the daily chart, where the 50-day Moving Average (50 MA) crosses below the 200-day Moving Average (200 MA).
The analyst indicated that the formation of this death cross signals a potential short-term weakness in the Bitcoin market. Generally, a death cross pattern in a cryptocurrency’s chart suggests the probability of further bearish momentum and pri
We współpracy z: https://www.newsbtc.com/news/bitcoin/bitcoin-bearish-death-cross/
