Bitcoin (BTC) is facing a rare chart phenomenon that has historically resulted in 50% price drawdowns, new data shows.
In a tweet on April 25, popular account Nunya Bizniz noted a fresh warning sign from two key moving averages on BTC/USD.
Analyst: BTC could spend 6 months recovering from dip
For only the third time in its history, Bitcoin’s 20-week and 50-week moving averages (WMAs) have both started to slope downwards.
While that may look harmless at glance, the result of the first two…
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