As a reminder, in 2019, also a year that the Fed cut rates, #BTC diverged from #SPX as well.
So many people keep acting like this stuff is unprecedented and hard to believe, but the *exact* same thing happened last cycle.
Bitcoin bulls are going to hate this, but there is nothing incorrect on the chart. It's a simple statement of fact. It could be different this time, but the odds are against it #Bitcoin#BTC#Crypto#Altcoins#Blockchain#Stockmarkets
#Bitcoin just printed a bearish cross on the daily chart, with the 50 MA crossing below the 200 MA, signaling short-term weakness in the market.
This is the second bearish cross since the $15,500 bottom.
The last bearish cross was in September 2023 when the price was trading around $25,000.
After that, the price went sideways for a few weeks before reclaiming the MAs, leading to a bullish cross and a strong upside rally.
If the pattern repeats we might see a few weeks of choppy PA here.
The bullish confirmation will be a reclaim of the MA's followed by a nice bullish cross.
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“An attack of this scale is a sufficient reason to trigger the collective defense clause of NATO, but our critical infrastructure was blown up by a country that we support with massive weapons shipments and billions in cash.”