đš Beware of the Fakeout and Upcoming Death Cross! đš
Bitcoin's current trajectory might fool many into thinking we're headed for a bull run, but donât let this fakeout deceive you. BTC touched $66,498, and the price now hovers around $62,612. However, a storm is brewing...
đ Death Cross Incoming! đ
The 7-day and 25-day moving averages are dangerously close to crossing the 99-day MA, signaling a death crossâa classic bearish indicator. This setup could spell further downward pressure in the near future. đ
đĄ Technical Analysis Breakdown:
1. Volume is shrinking đ â indicating weakened momentum.
2. RSI sits at 51.50âweâre still in neutral territory, but caution is key.
3. MACD shows bearish divergenceâbulls and bears are hesitant, creating uncertainty.
đ What to Expect:
If Bitcoin breaks through $61,682 (MA7), watch out for a deeper drop toward $61,075 (MA99). On the flip side, if we reclaim $66,498, bulls might regain controlâbut only temporarily. Keep an eye on the moving averages; the death cross might just flip the entire market.
Stay sharp, Lions, and be prepared for volatility. The best opportunities come to those who remain patient and avoid emotional decisions in times of uncertainty. đŠđȘ
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