Bitcoin appears to be in the process of forming a death cross currently. Here’s what happened to the asset the last time this pattern emerged.
Bitcoin 50-Day MA Is Moving Below The 200-Day MA Right Now
As pointed out by an analyst in a post on X, the 50-day moving average (MA) has been attempting a cross below the 200-day MA recently. A “Moving Average” is an analytical tool that calculates the average of any given quantity over a specific period of time. As its name suggests, it moves and changes alongside the quantity in question.
The main benefit of an MA is that it removes short-term fluctuations from the data, smoothing out the curve. This makes the study of long-term trends easier to perform.