Things could soon go from bad to worse for bitcoin (BTC) traders looking for bullish cues on technical charts.
The cryptocurrency’s 50-week simple moving average (SMA) is falling fast and looks set to cross below the 200-week SMA for the first time on record.
According to technical analysis theory, the bearish intersection of the two averages, often referred to as the “death cross,” means the market is about to head into a tailspin.
Bitcoin has dropped 75% since reaching a record high of…
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