- The weekly price chart of Bitcoin has shown a bearish technical pattern, as the 50-week simple moving average has crossed under the 200-week SMA.
- Some analysts believe the 50-week moving average acts as valid resistance, intensifying the selling.
- Others do not consider the death cross a reliable indicator, as it is based on backward-looking moving averages and lags prices.
https://twitter.com/Pentosh1/status/1632421604452868099 For the second week in a row, Bitcoin is encountering a sell wall at the 50-week SMA. Despite this, analysts have had varying opinions on what the...