Bitcoin’s plunge back below $9,000 has the cryptocurrency facing a dreaded death cross. This occurs when the 50-day moving average breaks below its 200-day counterpart on a closing basis. As the name implies, it’s considered a bearish development.
![620x-1.png](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i2M1xeGSkfCY/v2/620x-1.png)
This would be the first death cross for Bitcoin since 2015.To be sure, there are some countervailing technical signals suggesting this event might not be so crippling.
The 200-day moving average is still rising and served as intraday support Friday. In addition, Bitcoin is setting higher lows, with April’s trough higher than February’s.
https://www.bloomberg.com/news/articles/2018-05-11/bitcoin-faces-death-cross-after-falling-below-9-0...
![620x-1.png](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i2M1xeGSkfCY/v2/620x-1.png)
This would be the first death cross for Bitcoin since 2015.To be sure, there are some countervailing technical signals suggesting this event might not be so crippling.
The 200-day moving average is still rising and served as intraday support Friday. In addition, Bitcoin is setting higher lows, with April’s trough higher than February’s.
https://www.bloomberg.com/news/articles/2018-05-11/bitcoin-faces-death-cross-after-falling-below-9-0...