Warning: Death cross ahead! A similar trading pattern that appeared when Bitcoin dropped by 40% is forming again. Should we be worried, or will the outcome be different this time?
) formed a trading pattern on Jan. 8 that is widely watched by traditional chartists for its ability to anticipate further losses.
Additionally, its occurrence did little in preventing Bitcoin from rising to around $29,000 by the end of 2020, as shown in the chart belowSimilarly, a death cross appeared on the Bitcoin daily charts in July 2021 that — like in March 2020 — was more lagging and less predictive. Its occurrence did not lead to a massive selloff.
," which saw Twitter CEO Jack Dorsey, Tesla CEO Elon Musk, and ARK Invest CEO Cathie Wood speaking highly in favor of Bitcoin. "This is proof that bitcoin acts like a risk asset," Noelle Acheson, head of market insights at crypto lender Genesis Global Trading,Bitcoin may pass $30K September lows, trader warns
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