We would likely see a #BTC rally into its death cross. You can see that rally has now arrived.So perhaps some context is needed.
What happened during prior death crosses?
In 2023, #BTC started its rally just after the death cross. It then got above its 50D SMA and subsequently held it as support before going higher.
In 2022, #BTC got a small rally into the death cross but it faded after the cross occurred.
In 2021, #BTC rallied before the death cross and then it faded as it arrived.
In 2020, #BTC rallied into the death cross, had a small pullback after it, then kept going (sort of like 2023).
And in 2019, #BTC had a strong rally into the death cross, that topped on the day of the death cross, before fading back down for a few months.
The durability of this move will likely depend on first #BTC getting above its 50D SMA ($62k), and then holding it as support like it did in 2023.
If it fails to hold as support like 2019, then the slow grind down continues until a sufficient pivot from the Fed IMHO.
BTC66,955.55-0.85%