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😱 Bitcoin Death Cross! 😱
Hey everyone, just wanted to give you a heads-up! I was checking out the Bitcoin chart today, and it looks like we’ve got a Death Cross ╳ on our hands. For those who don’t know, that’s when the shortterm trend 50day moving average, yellow line, dips below the longterm trend 200day moving average,red. It’s usually a sign that the market might be heading lower. 😬
Here’s What I’m Seeing 👀:
The yellow line just crossed under the red line and exept that
Bitcoin’s price is hanging out below both of these lines, which isn’t a great sign if you’re hoping for a bounce back up.
The RSI (a tool that measures momentum) is sitting at 42.89, so it’s leaning bearish but not super oversold yet.
This could mean :
More downside for Bitcoin, so keep an eye out if you’re holding or thinking about buying.
Watch for any support levels where we might see a bounce, but be careful out there!
I would like your point of view on this 😊 3 replies
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