Dreaded death cross appears for Bitcoin as the bad new parade continues
major red sign on the technical charts is that Bitcoin has crossed a 3-day red chart! The last two times this happened, the BTC price corrected by a staggering 50%. If Bitcoin repeats this performance, we are heading all the way down to $15,000.
On Thursday 12-May, when the market was at the lowest, the Accumulation Trend Score reversed from very weak values below 0.3, to return values upwards of 0.796. Supporting the Bitcoin price bounce back into the $30ks, the Score returned values above 0.9 for the remainder of the week, suggesting strong buy side activity took place.
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NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!