A cryptocurrency analyst has pointed out how Bitcoin has recently formed a technical crossover that preceded bearish shifts in the past.
Bitcoin Has Seen A Death Cross Between 21-Day & 50-Day SMAs
In a new post on X, analyst Ali Martinez has shared a daily price chart for Bitcoin showcasing a crossover between two simple moving averages (SMAs) that the asset has gone through recently.
An SMA is a statistical tool that averages a quantity over a given period of time and that, as its name suggests, updates in time with the quantity. This tool can be useful for studying long-term trends, as it smooths out the graph by eliminating short-term fluctuations.
SMAs can be taken over any window, but in the context of the current topic, two specific periods are of relevance: 21-day and 50-day. Below is the chart posted by Martinez that shows the trend in these SMAs for Bitcoin over the past decade.
From the graph, it’s visible that the daily Bitcoin price has seen its 21-day S
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