BTC records fourth 50-week/100-week moving average death cross: The Crypto Basic

Bitcoin has recorded a death cross in which its 50-week moving average fell below its 100-week moving average, the fourth such signal on record, according to an analysis by The Crypto Basic. The outlet said the latest death cross came 11 to 12 days after the low reached last summer and noted that in past instances, the market turned higher in nine to 15 months. If the same pattern plays out this time, Bitcoin could rebound between April and October next year, it said. The outlet added BTC is currently trading below both its 50-week and 100-week moving averages and would need to reclaim those levels to reverse the trend. It said this view would be invalidated if BTC falls below last summer’s low.