Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Bitcoin This Is BAD, It Could Get WORSE!

Published 06/08/2021, 10:30 AM
Updated 06/08/2021, 10:30 AM
© Reuters.  Bitcoin This Is BAD, It Could Get WORSE!

  • Crypto analyst Lark Davis believes Bitcoin price could get worse.
  • Davis looked at technical indicators to support his prediction.
  • However, the analyst doesn’t believe Bitcoin price will fall below $28,000.

Popular crypto analyst Lark Davis posted a video analysis of Bitcoin. Davis focused on analyzing the top crypto’s price charts and technical indicators after saying,

“Bitcoin man, game freaking over! Bitcoin is looking bad, and it could get worse. But how much worse could it get? That’s what we’ll investigate in this video looking at some technicals.”

Imminent death cross

Davis proceeded to look at Bitcoin’s price charts. Based on the current price trajectory, Davis believes Bitcoin is likely to form a death cross. A death cross is a lagging market indicator, and a bearish sign that Davis thinks is likely to form in about 10 days.

Davis added that to avoid or reverse the death cross BTC price needs to go up by $10000 which is unlike...

This article was first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.