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Bitcoin Forms Bearish Death Cross

Published 01/24/2022, 12:03 AM
Updated 07/09/2023, 06:31 AM

I last wrote about Bitcoin (BTC/USD) in my post of December 30, 2021.

A bearish moving average Death Cross has formed on the daily timeframe, as shown on the chart below.

A break and hold below 30,000 could send price crashing down to 20,000, or lower.

By the way, my above-mentioned post also compared the price action of Virgin Galactic Holdings (NYSE:SPCE) with Bitcoin's.

Since that time, SPCE has continued its plunge downward to its close last Friday of 8.47...below its IPO price of 10.50 in September of 2017.

We'll see if Bitcoin's fate is, ultimately, similar to that of SPCE!

BTC/USD Daily

Latest comments

Interesting👍👍
Good news
hehe🤬
walofs
look at this death cross specialist 🤣
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