Bitcoin has been moving in the mid and high range of $30,000.
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”.
With a “Death Cross”, as the analyst said, usually there is a wide period of downside for BTC’s price.
The Death Cross occurs with some lag So by the time it happens – a lot of downside will have already happened.
This has historically occurred many times over during 2013, 2017, and 2019 and has coincided with local tops.
This is why Rekt Capital concludes that the 54% crash in BTC’s price is part of the pre-Death Cross period.
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