Bitcoin Price Is Charting This ‘Death Cross’ for First Time Since 2014

Bitcoin‘s (BTC) price woes may not be over just yet, as a key technical indicator is about to turn bearish for the first time in four years.

On the 3-day chart, the 50-candle simple moving average (SMA) looks set to cut the 200-candle SMA from above, confirming what is popularly known as the “death cross”. This specific bearish crossover was last seen in December 2014.

The onset of a death cross can be a warning that a bear market is looming, according to technical theory. In reality, however, it is the result of a prolonged bear market – i.e., it’s a backward-looking indicator. As a result, the oversold market usually sees a bounce after a bearish crossover is confirmed.

Continue Reading on CoinDesk

Like this: Like Loading...