đđ„ Attention investors! The price of Bitcoin must absolutely cross $62,000 to avoid a descent into hell! đ„
Bitcoin (BTC) is at a critical juncture: to escape the catastrophic effects of the dreaded âDeath Cross,â it must turn $62,000 into a support level. According to the latest analysis, this resistance is becoming crucial to avoid a sharp price drop.
The âDeath Cross,â that ominous term, occurs when the 50-day simple moving average (SMA) crosses below the 200-day SMA. Currently, the SMAs are at $61,998 and $91,882, respectively. This crossover is often seen as a harbinger of bearishness.
But donât panic! According to Benjamin Cowen, the effects are not always disastrous. In 2023, Bitcoin started a rise right after a âDeath Crossâ. If the $BTC breaks above $62,000 and holds this level as support, we could see a new rise!
On the contrary, the years 2019, 2021 and 2022 have shown that the "Death Crosses" have led to declines. The key to success this time will be Bitcoin's ability to break through the $62,000 threshold and hold it as support, as in 2023.
Currently, despite a price recovery to $62,775, the futures market remains stagnant. The battle to break through this critical resistance is far from over.
So, will you be one of those who seize this opportunity or will you let yourself be carried away by the wave of fear? Watch closely, because the next few days will be decisive for Bitcoin!
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