The Bitcoin’s Death Cross Pattern Played Out Again: Here’s What It Means
Bitcoin’s (CRYPTO: BTC) rally came as no surprise to Benjamin Cowen, founder of Into The Cryptoverse, who had forecasted this move even before the death cross.
What Happened: Cowen explained in a recent podcast that the pattern has played out again as Bitcoin rallied from $77,000 to $91,000 since the death cross occurred.
The technical event, which happens when the 50-day moving average crosses below the 200-day moving average, typically triggers panic selling despite historically marking local bottoms.
Cowen had purposely warned viewers about this pattern a week before the death cross occurred, saying: “If you want to sell your Bitcoin, history shows you should not do it on the day of the death cross. If you’re going to do it, you should do it a few months …
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