Bitcoin is dangerously close to a ‘death cross’ formation that could send it tumbling

Bitcoin is flirting with disaster.

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.

Now before you run off and sell all of your bitcoin, note that technical analysis like this is intended to be used as complementary…

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