This signal appears for the first time in the history of Bitcoin
Bitcoin
This signal appears for the first time in the history of Bitcoin (BTC). The 20-week moving average (20W MA) has just crossed below the 200-week (200W MA). Although the BTC price has never experienced such a situation, perhaps the correlation with the traditional stock market (SPX) will give us some clues.
In this article, BeInCrypto takes a look at the first-ever signal that is just now being generated on Bitcoin’s weekly chart. The 20W MA has made an unconfirmed death cross with the 200W MA. In traditional markets, this event is usually a confirmation of a long-term bear market. However, it is the correlation with the S&P 500 (SPX) that may help us give this signal a more bullish interpretation.
This signal appears for the first time in the history of Bitcoin (BTC). The 20-week moving average (20W MA) has just crossed below the 200-week (200W MA). Although the BTC price has never experienced such a situation, perhaps the correlation with the traditional stock market (SPX) will give us some clues.
In this article, BeInCrypto takes a look at the first-ever signal that is just now being generated on Bitcoin’s weekly chart. The 20W MA has made an unconfirmed death cross with the 200W MA. In traditional markets, this event is usually a confirmation of a long-term bear market. However, it is the correlation with the S&P 500 (SPX) that may help us give this signal a more bullish interpretation.
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