BTCUSDT death cross formed
Bitcoin / TetherUS BINANCE:BTCUSDT
Bitcoin had broken down below the 20-day exponential moving average ( EMA ) and 20-week exponential moving average ( EMA ) for the past few days. This suggests that bears are selling on rallies. Death cross had formed indicating that bears are back in the driver’s seat. The downsloping 20-day EMA and the RSI is moving toward the extreme fear level indicating the price may drop further in coming days. There is major support at the horizontal level at $37,000, the bulls are likely to defend this level with all their might.
