Bitcoin (CRYPTO: BTC) is consolidating around $65,000, but traders are watching a potential death cross that could determine the next move.
Is This Bitcoin’s Final Leg Down?
Bitcoin is approaching a potential 3-day death cross between its 50-day and 200-day simple moving averages, a signal that crypto analyst Ali Martinez says has historically preceded the final leg of bear markets.
Looking back to 2013, 2017 and 2021, Bitcoin had already suffered steep declines before each 3-day death cross appeared.
In every case, the signal was followed by another sharp drop of roughly 45% to 52%, marking final capitulation before a macro bottom formed.
After peaking …