Technical analyst points out a hopeful sign for the Bitcoin bulls – death cross followed by a 1000% gain
22 Jun 2021
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The ‘death cross’ in BTC is getting a bit of coverage. But, says Reuters tech analsyt:
- “No technical analysis indicator is perfect, including the death cross, in isolation. Most chartists use a combination of studies to derive directional signals”
- “For example, the last death cross on the bitcoin chart occurred in March 2020 after the cryptocurrency had plunged nearly 60 per cent over a six-day period and just before it started a historic rally of more than 1,000 per cent over the next year.”