An analyst has pointed out how Bitcoin could be approaching a death cross between the 50-day and 200-day SMAs on the 3-day chart.<\/p>\n
In a new post <\/a>on X, analyst Ali Martinez has talked about a death cross on Bitcoin\u2019s 3-day price chart. A \u201cdeath cross<\/a>\u201d popularly refers to a bearish signal produced by a crossover between two simple moving averages (SMAs)<\/a> of an asset. Typically, a death cross involves the longer SMA moving above the shorter one. In the context of the current topic, the SMAs of relevance are the 50-day and 200-day versions.<\/p>\n Below is the chart shared by Martinez that shows the pattern displayed by these two SMAs for the 3-day Bitcoin price.<\/p>\n As is visible in the graph, the 50-day SMA of the 3-day Bitcoin price saw a cross under the 200-day SMA in each of the last three cycles. All of these crossovers preceded bearish price action.<\/p>\n More specifically, the 2014 crossover led to a drawdown of 52.19% for the asset, the 2018 one to 50.56%, and the 2022 one to 45.91%. Interestingly, these price declines all led to the bottoms of their respective bear markets. \u201cSince 2014, the death cross between the 50 and 200 simple moving averages on the 3-day chart has consistently preceded the final leg down of a Bitcoin $BTC bear market,\u201d noted the analyst.<\/p>\n Jumping to the present, BTC has faced a bearish shift in recent months with a notable drawdown in its price. This has resulted in the 50-day SMA witnessing a decline toward the 200-day SMA. As a zoomed-in chart shared by Martinez in another X post<\/a> shows, there is now not much distance left between the 50-day and 200-day SMAs of the 3-day Bitcoin price.<\/p>\n If the two lines continue to follow the current trajectories, the analyst has estimated that a death cross could occur on February 27th. Given the past trend, such a death cross could take Bitcoin into its final leg for the bear market. It only remains to be seen, however, whether the current cycle will actually follow a similar pattern or if it will show divergence.<\/p>\n In some other news, the Realized Profit\/Loss Ratio<\/a> has slipped into the loss region recently, as on-chain analytics firm Glassnode has highlighted in an X post<\/a>.<\/p>\n In the past, a shift toward loss realization on the Bitcoin network has generally lasted for over six months before a return of liquidity has occurred.<\/p>\n Bitcoin has erased some of its recent recovery over the past couple of days as its price is now trading around $63,300.<\/p>","protected":false},"excerpt":{"rendered":" An analyst has pointed out how Bitcoin could be approaching a death cross between the 50-day and 200-day SMAs on the 3-day chart. Bitcoin Is Potentially Nearing A Death Cross On The 3-Day Timeframe In a new post on X, analyst Ali Martinez has talked about a death cross on Bitcoin\u2019s 3-day price chart. A […]<\/p>\n","protected":false},"author":0,"featured_media":137826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-137825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/137825"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=137825"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/137825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/137826"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=137825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=137825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=137825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC Price<\/h2>\n