BTC Death Cross, What now ?
The MA-50 line has crossed below the MA-200, resulting in a death cross for BTC.
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On 19–06–2021 the MA-50 line has crossed below the MA-200, resulting in a death cross for BTC. I have already talked about what death cross is in my previous blogs buy here is a brief “In the 1Day time interval the the 200-Days Moving Average is about to cut the 50-Days Moving Average which indicates a death cross i.e, Market Down Fall if it happens then there could be serious price dump in market and BTC could even test $20K-$22K level”
But the thing is when the death cross happened market was already very low BTC was already trading btw $35k- $36k. So what can we expect now ??
What I think we should be prepared for a dump the RSI is around 40 in 1 day which means its still not that bad for the bulls. Remember RSI above 70 is overbought and RSI below 30 is oversold. So taking in account the bear market we are in the bears have enough fuel to drop it around $28K- $30K then it will take a bounce and trade around $34K-$35K and then we’ll either continue the bull run or have another fall around $22K-$26k or in worse case $20K-$22K which I talked about earlier in my previous blog.
Guys this is just what I think along with some facts and how market is currently behaving like. Remember the market too spontaneous for anyone to tell you preciously.
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