This Analyst Believes Bitcoin’s Death Cross is Actually a Bullish Sign
- Bitcoin faces potential ‘death cross’ pattern, often seen as bearish signal
- Analyst Aldo suggests cross could mark bottom, targets $120k summer, $150k EOY
- Trump’s new tariff plans add macro pressure, triggered market dip Thursday
Bitcoin is again in the spotlight now with the “death cross”—a chart pattern that happens when Bitcoin’s short-term moving average (like the 50-day) crosses below its long-term moving average (as in the 200-day).
This pattern is often seen as a bearish signal. On top of that, there’s also the looming issue of tariffs set to take effect on April 2nd, which could affect market sentiment, including Bitcoin’s performance. However, not everyone is sold on all the bad news.
Death Cross: Bear Signal or Market Bottom Indicator?
Crypto analyst Evan Aldo explained that the death cross might not be as negative as it sounds. It could be a sign that Bitcoin is about to bounce back. Looking at a chart shared by Benjamin Cowen, he said that this pattern has historically marked the bottom of the market, meaning Bitcoin could be on the edge of a big recovery.
Even with current downward pressure, he believ…
The post This Analyst Believes Bitcoin’s Death Cross is Actually a Bullish Sign appeared first on Coin Edition.
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This Analyst Believes Bitcoin’s Death Cross is Actually a Bullish Sign
- Bitcoin faces potential ‘death cross’ pattern, often seen as bearish signal
- Analyst Aldo suggests cross could mark bottom, targets $120k summer, $150k EOY
- Trump’s new tariff plans add macro pressure, triggered market dip Thursday
Bitcoin is again in the spotlight now with the “death cross”—a chart pattern that happens when Bitcoin’s short-term moving average (like the 50-day) crosses below its long-term moving average (as in the 200-day).
This pattern is often seen as a bearish signal. On top of that, there’s also the looming issue of tariffs set to take effect on April 2nd, which could affect market sentiment, including Bitcoin’s performance. However, not everyone is sold on all the bad news.
Death Cross: Bear Signal or Market Bottom Indicator?
Crypto analyst Evan Aldo explained that the death cross might not be as negative as it sounds. It could be a sign that Bitcoin is about to bounce back. Looking at a chart shared by Benjamin Cowen, he said that this pattern has historically marked the bottom of the market, meaning Bitcoin could be on the edge of a big recovery.
Even with current downward pressure, he believ…
The post This Analyst Believes Bitcoin’s Death Cross is Actually a Bullish Sign appeared first on Coin Edition.
Read More
Donald Trump Pushes Rate Cuts as Crypto Market Holds Steady at $2.79T