$BTC becoming more bearish as the death cross signal appears on the market, making predictions about long-term recovery obsolete
This pattern can also indicate a change in market sentiment, from bullish to bearish, and can result in a prolonged period of price consolidation.was unable to enter a prolonged uptrend and quickly reversed two days ago, returning to the $21,000 price level and consolidating at the 200-day moving average. This could be a sign of a more significant trend reversal for the leading cryptocurrency.
However, it is important to note that the death cross is just one of many technical indicators used by traders and analysts to make informed decisions. While it can be a valuable tool in understanding market sentiment, it is not a guarantee of future market performance.At press time, Bitcoin is trading at $21,827 and has recently gained 1.6% to its value in the last 24 hours, successfully bouncing from the local low of $21,476.
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