$BTC (3D) โ Death Cross Is Approaching
The 50 SMA is closing in on the 200 SMA on the 3-day chart.
This setup is rare, historically appearing only once per cycle during bear markets.
Both in 2015 and 2018, Bitcoin hit a cycle bottom roughly one month after the cross triggered.
In the most recent cycle, a significant local bottom formed about 30 days after the cross, after which price ground sideways for nearly 5 months before making one final move down.
The cross has not confirmed yet, but the averages are converging.
Watch this closely.