Bitcoin and the Death Cross - indicator of decline, but it may rise

The $BTC is about to form a "death cross" on its price chart. Such an indicator is one of the most famous in the market and points to a strong trend reversal with more decline ahead.

In summary, the death cross is formed when the 50-day moving average crosses below the 200-day moving average, meaning the indicator shows recent selling pressure (fig 2). However, it is not an absolute rule of the direction the market will take.

In August 2024, the $BTC fell only 14.9%. Prior to that, in September 2023, the cryptocurrency experienced a single day of decline.

Because of this, even if the $BTC forms a new death cross on its chart in the coming days, it is possible that the market may rise again.