Mars Finance News, on April 27, according to analyst @ali_charts, BTC has returned above the 200-day moving average, which is a historic positive signal that usually indicates further price increases. Bitcoin formed a "death cross" on the daily chart on April 6 - a technical pattern where the 50-day moving average (MA) falls below the 200-day moving average. Since its inception, Bitcoin has experienced 10 such "death crosses", with the 11th currently occurring. Analyzing the dates and duration of these "death crosses" leads to an important conclusion: every bear market contains a "death cross", but not every "death cross" leads to a bear market. This distinction is key to understanding the current market landscape.
Analysis: Bitcoin has returned above the 200-day moving average, and the market outlook is expected to be bullish
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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