Post
The #bitcoin “death cross” didn’t mark the bottom for a bounce as it often does.
What does this mean?
➡️ This is an indicator that the $BTC top is already in at $126k. ⬅️
It did this one other time, on 14 Jan 2022, right after the 2021 top, when the bear market was just getting going.
This seems to be the closest parallel to what we’re seeing right now in terms of BTC’s reaction timed with the death cross of several days ago. So, this is another clue the BTC top is more likely already in, than not.
I still think a big relief rally is coming over the coming months, but it seems like it may be just that: a *relief rally* (seen in bear markets) and not a climb to new ATHs.
* If you’re new to the term “death cross”, it is defined as the 50-day moving average dropping below the 200-day moving average, and often marks bottoms and usually experience sharp rebounds, except once in 2022 where it was a part of a bear market move down
#BTC
{future}(BTCUSDT)
What does this mean?
➡️ This is an indicator that the $BTC top is already in at $126k. ⬅️
It did this one other time, on 14 Jan 2022, right after the 2021 top, when the bear market was just getting going.
This seems to be the closest parallel to what we’re seeing right now in terms of BTC’s reaction timed with the death cross of several days ago. So, this is another clue the BTC top is more likely already in, than not.
I still think a big relief rally is coming over the coming months, but it seems like it may be just that: a *relief rally* (seen in bear markets) and not a climb to new ATHs.
* If you’re new to the term “death cross”, it is defined as the 50-day moving average dropping below the 200-day moving average, and often marks bottoms and usually experience sharp rebounds, except once in 2022 where it was a part of a bear market move down
#BTC
{future}(BTCUSDT)