Upcoming death cross signals potential bear market
Looking at the 100 and 200 day MA we can see that if Bitcoin's price doesn't keep rising that a bear market is imminent because the 100 and 200MA will form a deathcross. However, if the bulls loose keep their momentum then the way is clear for further price rise.
While a Golden Cross is a well known technical indicator don't get too exited because it doesn't seem to work too well for bitcoin . As you can see last time the golden cross formed the market actually ended up crashing harder than before.
I am going to play it safe and sleep in fiat.
Full analysis: themerkle.com/technicalanalysis/bitcoin-technical-analysis-for-21916/
Update status
While a Golden Cross is a well known technical indicator don't get too exited because it doesn't seem to work too well for bitcoin . As you can see last time the golden cross formed the market actually ended up crashing harder than before.
I am going to play it safe and sleep in fiat.
Full analysis: themerkle.com/technicalanalysis/bitcoin-technical-analysis-for-21916/
Update status
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