Death cross between the MA50 & MA&200 finally happened .
This is something BTC never had in a bull run !
When BTC peaked in 2013 it took 135 days for death cross to occur & during those days BTC dropped -%73
that said the death cross confirms a bearish trend and possibly more downside , in 2013 the death cross preceded another -%72 drop :
lets check another period ,
when BTC peaked in 2017 , it took 107 days for the death cross to occur , & during those days BTC dropped -%70 from its all time high ( $20000 )
Yes , BTC dumped -%70 before the death cross , but once the death cross happened BTC did -%65 correction to the downside .
BTC death cross happened today after it run , so far BTC has crashed -%54 since its all time high ( $65k)
The depth of a BTC correction pre- death cross is similiar to retrace depth post - death cross .
2013:
• BTC drops -%73 pre-Death Cross
• BTC drops extra -%70 post-Death Cross
2017:
• -%70 pre-Death Cross
• Extra -%65 post-Death Cross
If history is going to repeat itself with a -%50 to -%70 crash that would result in a $14k & $11.5k BTC .
Still everything can change in seconds for BTC .
Just my idea , NOT FINANCIAL ADVICE .
Stay safe.
This is something BTC never had in a bull run !
When BTC peaked in 2013 it took 135 days for death cross to occur & during those days BTC dropped -%73
that said the death cross confirms a bearish trend and possibly more downside , in 2013 the death cross preceded another -%72 drop :
lets check another period ,
when BTC peaked in 2017 , it took 107 days for the death cross to occur , & during those days BTC dropped -%70 from its all time high ( $20000 )
Yes , BTC dumped -%70 before the death cross , but once the death cross happened BTC did -%65 correction to the downside .
BTC death cross happened today after it run , so far BTC has crashed -%54 since its all time high ( $65k)
The depth of a BTC correction pre- death cross is similiar to retrace depth post - death cross .
2013:
• BTC drops -%73 pre-Death Cross
• BTC drops extra -%70 post-Death Cross
2017:
• -%70 pre-Death Cross
• Extra -%65 post-Death Cross
If history is going to repeat itself with a -%50 to -%70 crash that would result in a $14k & $11.5k BTC .
Still everything can change in seconds for BTC .
Just my idea , NOT FINANCIAL ADVICE .
Stay safe.