Bitcoin is staring at a bearish – but historically contrary – indicator, signaling a possible recovery rally ahead. reports godbole17
Bitcoin's price chart showing an impending bear cross between the 10- and 50-week moving averages. The cryptocurrency's 10-week simple moving average is about to dip below the 50-week SMA, confirming a so-called bearish crossover.
The previous bearish cross dated mid-March 2020 occurred after bitcoin's coronavirus-induced crash to $4,000. Bitcoin picked up in the subsequent months, setting record highs above $20,000 by December.
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