Feb 26 • General discussion
Bitcoin 3-Day 'Death Cross' Signalling 50% Incoming Drop
In this quick study I'm showing how in Prior Cycles Bitcoin has seen additional 40 to 50% drops from where we are now.
On this 3-day charge and looking at the crossover of the 50. EMA below the 200. EMA in blue, we've seen previously deeper corrections in the 50% range.
So while we could see a recovery balance in March, since we've been down 5 months with Red candles in a row. I still think this is ominous and looks poised to drop lower.
My other studies show a drop to at least the $50,000 to $52,000 range where we can see buyers lined up there for a strong bounce, or potentially bottom using "buyer" block signals.
Read full study here:
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Bitcoin 3-Day 'Death Cross' Signalling 50% Incoming Drop
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