🔥 Bitcoin Death Cross: History Predicts Short-Term Pump

11 בינו׳ 2022

With BTC trending down, it was to be expected that we were going to get a death cross soon. A death cross occurs when the 50-day SMA (blue) crosses the 200-day SMA (yellow) from above, which is typically a bearish (lagging) indicator.

However, I'm seeing a big probability for a short-term reversal. Whether the reversal will be bringing us back to all-time high values remains to be seen.

Over the last 6 years we've seen several death crosses occur. You can clearly see that BTC will turn bullish in the days before the death cross. See snapshots below.

2021


2020


2019


2018


2015


When we combine the knowledge from above with the fact that BTC is currently trading in a massive area of reversal makes me believe that we're likely going to see a bounce of some kind. See below for my BTC support analysis.

Happy trading!