Sunday, July 3

Bitcoin ‘death crossover’ reappears pushing BTC price to $ 28,800 level By CoinTelegraph

© Reuters. Bitcoin ‘death crossover’ reappears pushing BTC price to $ 28,800 level

A technical sell signal is about to appear on the daily chart of ().

On December 18, the price of BTC will experience a death crossover, a market indicator that occurs when a short-term moving average falls below a long-term moving average. In this case, Bitcoin’s 20-day exponential moving average (20-day EMA) will close below its 200-day moving exponential average (200-day EMA).

The indicator may end up alerting traders and investors to a possible liquidation in the coming sessions, given its history of predicting downtrends in advance. For example, the 20-200 bearish crossover that appeared on May 30, 2021 was instrumental in bringing the price of BTC down from $ 36,500 to $ 28,800 in the next 24 days.

Read the full article on Cointelegraph

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