Bitcoin dangerously close to ‘death cross’ that could send it tumbling – Business Insider

The formerly red-hot cryptocurrency has seen a precipitous decline from record highs reached in December. And the loss has gotten so pronounced that it’s threatening to trigger the so-called “death cross,” a bearish indicator used by technical analysts.

A death cross is achieved when an asset’s short-term moving average falls below the long-term level, an occurrence that some analysts say portends a further downward move. In this case, we’re looking at the 50-day average inching dangerously close to the 200-day.

via Bitcoin dangerously close to ‘death cross’ that could send it tumbling – Business Insider