• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin BTC BTCUSD
Nexo Logo

Crypto Analyst: Bitcoin Is On The Cusp Of A Potential Death Cross

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

Bitcoin has been moving in the mid and high range of $30,000. At the time of writing, the first cryptocurrency by market cap trades at $37,347 with 2.8% profits in the daily chart with moderate losses in higher timeframes.

Bitcoin BTC BTCUSD
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview

BTC’s price was rejected at $38,000. This level has become a key resistance and must be overcome if the recovery is to be successful. Anonymous analyst Rekt Capital believes that there could be further downside in the coming weeks, as BTC’s price action hints at the formation of a “Death Cross”.

This indicator appears when BTC’s price 50 Exponential Moving Average (EMA) cross below the 200 Exponential Moving Average (EMA). They are the opposite of the “Golden Cross”, this indicator points to appreciation and is a signal that the bulls will retake the offensive.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

With a “Death Cross”, as the analyst said, usually there is a wide period of downside for BTC’s price. During the 2013 bull run, it took 135 days or around 4 months for Bitcoin to form this indicator. In the meantime, the price dropped 73%. Rekt Capital said:

The Death Cross occurs with some lag So by the time it happens – a lot of downside will have already happened. That said, the Death Cross confirms a bearish trend and precedes even more downside. And in 2013, the Death Cross preceded an additional -71% drop…

Bitcoin BTC BTCUSD
Source: Rekt Capital

Is Bitcoin Bear Market Imminent?

Therefore, BTC’s price could continue to drop in the short term. This has historically occurred many times over during 2013, 2017, and 2019 and has coincided with local tops. The formation of this indicator has an average duration of 107 to 149 days.

If the analyst is correct, the “Death Cross” should occur during late July and early September of the current year, as seen in the chart below. A third scenario places the formation of this indicator for the current month, Rekt Capital said:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Right now, the 50 EMA (blue) and 200 EMA (black) are converging rapidly towards one another. If BTC doesn’t increase in its price soon and the EMAs continue at the same current pace… The Death Cross could happen sooner in mid-June 2021 (blue)

Bitcoin BTC BTCUSD
Source: Rekt Capital

On average, during a “Death Cross” event, the price dropped by around 60%. This is why Rekt Capital concludes that the 54% crash in BTC’s price is part of the pre-Death Cross period. If the theory holds, BTC’s price could see further downside to around $18,000.

BTC BTCUSD
Source: Rekt Capital

At the same time, this scenario could be the most profitable for investors that seize the moment.

What’s interesting about the scenario of a -55% post-Death Cross crash however is that it would result in a $18000 BTC. Which ties in with the 200-Week EMA (black) which tends to offer fantastic opportunities with outsized ROI for #BTC investors (green boxes highlight this)

Tags: bitcoinbtcbtcusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Bitcoin

Can This Bitcoin Ratio Have Hints For A Bottom?

14 hours ago
bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

1 day ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

2 days ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

2 days ago
Bitcoin

Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

2 days ago
Crypto Market Loses $60 Billion As Bitcoin Dips Below $20,000

Crypto Market Loses $60 Billion As Bitcoin Dips Below $20,000

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Don’t Miss Out On Experts’ Top Crypto Picks! Gnox (GNOX), Algorand (ALGO) And VeChain (VET) Set To Lead Bullish Market

July 2, 2022

LBank Exchange Will List DEBT on July 5, 2022

July 2, 2022

LBank Exchange Will List Metavie Token (METAVIE) on July 5, 2022

July 2, 2022

Holon (HLN) Is Now Available for Trading on LBank Exchange

July 2, 2022

LBank Exchange Will List METAFASTEST (METAF) on July 1, 2022

July 2, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.