Based on BTC daily chart, it has stayed in a downtrend since previous ATH. A recovery which breaks above $42k has not happened after it dropped to $30k. Volume is also decreasing.
Based on EMA 50 and 200, it has formed a bearish cross where in history it indicates the beginning of bear market.
Based on MACD indicator, signal line is also crossing which indicates a further downward movement incoming.
This death cross may create extreme fear to the investors which may bring BTC down to $15k to $21k and in my opinion this will be the best entry point we can see so far.
Based on EMA 50 and 200, it has formed a bearish cross where in history it indicates the beginning of bear market.
Based on MACD indicator, signal line is also crossing which indicates a further downward movement incoming.
This death cross may create extreme fear to the investors which may bring BTC down to $15k to $21k and in my opinion this will be the best entry point we can see so far.
