{"id":519943,"date":"2023-02-16T23:55:24","date_gmt":"2023-02-16T23:55:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=519943"},"modified":"2024-06-11T07:54:18","modified_gmt":"2024-06-11T07:54:18","slug":"bitcoin-price-death-cross-btcusd-level-matters","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-death-cross-btcusd-level-matters\/","title":{"rendered":"Bitcoin Bulls Charge Into BTC Death Cross, Why This Level Matters"},"content":{"rendered":"

Bitcoin price<\/a> briefly touched over $25,000 per coin today, before pulling back late in the day.\u00a0 <\/span>The rally took Bitcoin price precisely to both the 50-week and 200-week moving averages that have recently \u201cdeath crossed.\u201d<\/p>\n

Will the top cryptocurrency make it through the resistance and add more validity to a blossoming bull market, or will the rally suffer a rejection at the \u201cdeadly\u201d dynamic resistance level?\u00a0<\/span><\/p>\n

Bitcoin Faces Off With Death Itself<\/h2>\n

To say that Bitcoin price is retesting a critical resistance level would be an understatement. BTCUSD weekly price action has pushed directly into the highly publicized \u201cdeath cross\u201d of the 50-week and 200-week moving averages \u2014 the first one in Bitcoin\u2019s history.\u00a0<\/span><\/p>\n

Related Reading: Forget The Moon: Bitcoin Could Target The \u201cCloud\u201d At $40K<\/a><\/div>\n

The death cross signal<\/a> itself is bearish, and because it\u2019s never happened before, even bulls should be weary of how the market reacts at this key level.\u00a0 <\/span>A death cross typically tells investors that the longer term trend is possibly changing.\u00a0<\/span><\/p>\n

Moving averages send several other signals to the technical analyst<\/a> \u2014 a crossover is only one. A moving average turning up or down after an extended trend is another. Finally, passing above or below a moving average is yet another possible signal.\u00a0<\/span><\/p>\n

\"BTCUSD_2023-02-16_15-52-25\"<\/p>\n

Bitcoin price is smashing into the weekly death cross head-first | BTCUSD on TradingView.com<\/a><\/pre>\n
R.I.P. Or Time To Rip Higher?<\/h2>\n
In addition to providing potentially useable signals, moving averages act as dynamic support and resistance<\/a>. A cluster of moving averages suggests a strong area of support or resistance. And because of that, whatever happens next will send an important message to the market. \u00a0<\/span><\/p>\n
Bitcoin passing above the duo of dynamic resistance levels could flip them into support and cement the idea the bear market is over. Meanwhile, rejection from the key resistance level could be demoralizing for bulls and give bears the upper hand to push cryptocurrencies to dramatic new lows.\u00a0<\/span><\/p>\n
Related Reading: Total Crypto Market Triggers Golden Cross, Despite \u201cDeadly\u201d Bitcoin Counterpart<\/a><\/div>\n
The fate of the next several months of price action could be decided with the outcome of this important inflection point.\u00a0<\/span>The death cross<\/a> itself hasn\u2019t yet confirmed until the Sunday evening, giving bulls less than 72 hours to rise substantially above the two moving averages for a chance to avoid it.\u00a0<\/span><\/p>\n
After touching the moving averages initially today, Bitcoin suffered a more than $1,000 correction back to below $24,000. Although historically Bitcoin has always narrowly avoided the crossover, the lack of time left to avoid the death cross make a confirmation likely.\u00a0<\/span><\/p>\n
Follow @TonyTheBullBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price briefly touched over $25,000 per coin today, before pulling back late in the day.\u00a0 The rally took Bitcoin price precisely to both the 50-week and 200-week moving averages that have recently \u201cdeath crossed.\u201d Will the top cryptocurrency make it through the resistance and add more validity to a blossoming bull market, or will the rally suffer a rejection at the \u201cdeadly\u201d dynamic resistance level?\u00a0 Bitcoin Faces Off With Death Itself To say that Bitcoin price is retesting a critical resistance level would be an understatement. BTCUSD weekly price action has pushed directly into the highly publicized \u201cdeath cross\u201d of the 50-week and 200-week moving averages \u2014 the first one in Bitcoin\u2019s history.\u00a0 Related Reading: Forget The Moon: Bitcoin Could Target The \u201cCloud\u201d At $40K The death cross signal itself is bearish, and because it\u2019s never happened before, even bulls should be weary of how the market reacts at this key level.\u00a0 A death cross typically tells investors that the longer term trend is possibly changing.\u00a0 Moving averages send several other signals to the technical analyst \u2014 a crossover is only one. A moving average turning up or down after an extended trend is another. Finally, passing above or below a moving average is yet another possible signal.\u00a0 Bitcoin price is smashing into the weekly death cross head-first | BTCUSD on TradingView.com R.I.P. Or Time To Rip Higher? In addition to providing potentially useable signals, moving averages act as dynamic support and resistance. A cluster of moving averages suggests a strong area of support or resistance. And because of that, whatever happens next will send an important message to the market. \u00a0 Bitcoin passing above the duo of dynamic resistance levels could flip them into support and cement the idea the bear market is over. Meanwhile, rejection from the key resistance level could be demoralizing for bulls and give bears the upper hand to push cryptocurrencies to dramatic new lows.\u00a0 Related Reading: Total Crypto Market Triggers Golden Cross, Despite \u201cDeadly\u201d Bitcoin Counterpart The fate of the next several months of price action could be decided with the outcome of this important inflection point.\u00a0The death cross itself hasn\u2019t yet confirmed until the Sunday evening, giving bulls less than 72 hours to rise substantially above the two moving averages for a chance to avoid it.\u00a0 After touching the moving averages initially today, Bitcoin suffered a more than $1,000 correction back to below $24,000. Although historically Bitcoin has always narrowly avoided the crossover, the lack of time left to avoid the death cross make a confirmation likely.\u00a0 Follow @TonyTheBullBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":519945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-519943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Charge Head First Into BTC Death Cross<\/title>\n<meta name=\"description\" content=\"Bitcoin price briefly touched over $25,000 per coin today, before pulling back late in the day.\u00a0 The rally took Bitcoin price precisely to both the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bulls Charge Into BTC Death Cross, Why This Level Matters","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-death-cross-btcusd-level-matters\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-death-cross-btcusd-level-matters\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/iStock-479849836.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/iStock-479849836.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2023-02-16T23:55:24Z","datePublished":"2023-02-16T23:55:24Z","dateModified":"2024-06-11T07:54:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bulls Charge Into BTC Death Cross, Why This Level Matters\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-death-cross-btcusd-level-matters\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-death-cross-btcusd-level-matters\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/iStock-479849836.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/iStock-479849836.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2023-02-16T23:55:24Z\",\"datePublished\":\"2023-02-16T23:55:24Z\",\"dateModified\":\"2024-06-11T07:54:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/iStock-479849836.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/519943"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=519943"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/519943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/519945"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=519943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=519943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=519943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}