Bitcoin’s Staring At 5 Technical Indicators That Scream ‘Sell Now’

Bitcoin (CRYPTO: BTC) has triggered five major sell signals in the past month, amplifying concerns that a deeper correction may still be unfolding.

What Happened: Crypto analyst Ali Martinez highlighted technical indicators flashing warning signs:

• The monthly MACD has turned bearish for the first time since January 2022. The last three bearish flips led to average drawdowns of ~60%, which, if repeated, could pull BTC toward the $40,000 region.
• A death cross has appeared on the daily chart as the 50-day SMA crossed below the 200-day SMA. Over the past year, similar crosses marked local bottoms, but during 2022 they …

Full story available on Benzinga.com