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$BTC Death Cross Confirmed: Is $80k Next or a Trap? 💀🚨
The "Death Cross" is official on the daily chart (50 MA below 200 MA). This is a bearish signal, and many are calling for a plunge to $80,000.
• My Take: Don't be too quick to short. We saw a violent wick down to $84,600 yesterday, which was bought up almost immediately. This suggests strong institutional bids lurking below $85k.
• Key Levels: BTC needs to reclaim $92,000 to invalidate this bearish structure. If it fails, the road to $80,000 is open.
• $ETH Insight: $ETH is holding up surprisingly well above $3,000, showing relative strength against $BTC . If Bitcoin stabilizes, Ethereum could lead the next leg up.
#bitcoin #deathcross #cryptotrading #BusinessSquare #ETH
The "Death Cross" is official on the daily chart (50 MA below 200 MA). This is a bearish signal, and many are calling for a plunge to $80,000.
• My Take: Don't be too quick to short. We saw a violent wick down to $84,600 yesterday, which was bought up almost immediately. This suggests strong institutional bids lurking below $85k.
• Key Levels: BTC needs to reclaim $92,000 to invalidate this bearish structure. If it fails, the road to $80,000 is open.
• $ETH Insight: $ETH is holding up surprisingly well above $3,000, showing relative strength against $BTC . If Bitcoin stabilizes, Ethereum could lead the next leg up.
#bitcoin #deathcross #cryptotrading #BusinessSquare #ETH
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