Brothers Beware of the Upcoming #Fakeout and #Death Cross!

Currently, Bitcoin's price action may be confusing many investors as they see signs of a bull run. However, don't let this so-called fakeout fool you. Bitcoin has just hit a high of $66,498 and is currently hovering around $62,612. But beware, a storm is brewing…

Death Cross is coming!

The convergence of the 7-day and 25-day moving averages is approaching the 99-day MA, forming a death cross - a negative indicator of price trends. This could bring further downward pressure in the short term.

Technical Analysis:

1. Trading volume is decreasing - indicating a weakening of price momentum.

2. The RSI is currently at 51.50 - we are still neutral, but stay alert.

3. The MACD is showing bearish divergence - both buyers and sellers are starting to pause, creating an uncertain sentiment.

Future Prediction:

If #Bitcoin❗ breaks through the $61,682 level (MA7), prepare for a deeper drop to $61,075 (MA99). Conversely, if the $66,498 level is restored, the bulls may temporarily take control, but the situation is still unstable. Keep a close eye on the moving averages, as a death cross could lead to a major reversal in the market.

I advise you to stay calm and prepare for volatility, the most valuable opportunities will come to those who are patient and should avoid making emotional decisions. #Write2Win #MarketDownturn