Bitcoin climbs to $27,000 for the first time since Aug. 31

  • Bitcoin’s daily chart is set to show a so-called death cross, a major bearish technical pattern, for the first time since January 2022.

  • Past data show the death cross is not reliable as a standalone indicator.

  • Strengthening U.S. dollar and macro developments suggest tough times ahead for risk assets, including cryptocurrencies.

The bitcoin (BTC) price seems set on doing the opposite of whatever the dollar index (DXY) does.

The leading cryptocurrency’s 50-day simple moving average is on track to drop below its 200-day SMA, confirming a so-called death cross, the first since January 2022. The dollar index, which tracks the greenback’s value against major world currencies, looks set to confirm the opposite – a golden cross.

22 Likes

please and like my posts

5 Likes

A very good news

6 Likes

fake pump. dyor

7 Likes

Is btc your usual degen? What do you mean by fake pump? Stop the fud and allow the market to settle

6 Likes

Bulltrap. Short now!

4 Likes

I think this is not time to buy

4 Likes

Bullish? Let’s watch

3 Likes

Still in the bear market

2 Likes

Have a nice day everyone

2 Likes

I’ll long on some trade soon

2 Likes

bulls are coming . put on your seat belt

2 Likes

Reasonable words

3 Likes

Very good write up

3 Likes

ALL economic indicators suggest a decline in bitcoin

3 Likes

Hugely impressive :goat:

1 Like