Bitcoin's 3-Day Death Cross Tells If BTC May Fall Below $20,000 Or Not.

2022-05-18 | Selina Mathew

Bitcoin's 3-Day Death Cross Tells If BTC May Fall Below $20,000 Or Not.

If you're involved in the cryptocurrency industry, you're probably curious about the future of Bitcoin. The recent two weeks' developments indicate that BTC is due for a bullish comeback. However, a new danger has emerged in the shape of a death cross, which indicates the possibility of more decline.

The 50-day moving average for Bitcoin has just crossed below the 200-day moving average, making a death cross. The death cross in the three-day chart has traditionally resulted in a 50% downturn, according to popular crypto investor Lark Davis. If the same thing happens again, Bitcoin might face another huge price decrease.

Bitcoin was trading at $30,613 at the time of writing, having spent the previous four days fluctuating between $29,000 and $31,000. Its performance does not appear to have enough purchasing volume to propel it out of the range, leaving it vulnerable to another negative shock.

Although Bitcoin has risen out of the oversold zone, the MFI remains below 20, which is in the accumulation zone, but signals limited inflows. Despite rally forecasts, the death cross indicates an elevated possibility of another crash.


If enough BTC is accumulated at or near the present low price level, the current structural support may be strengthened. However, the opposite result makes it more vulnerable to downside risk.


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