"Bitcoin Faces Potential Downward Pressure, Warns Crypto Analyst"
Bitcoin's price, around $63,800, is causing concern as analyst Ali Martinez identifies two troubling signs on the charts. First, a 'death cross' between the 50 and 100 Simple Moving Averages suggests a potential shift from bullish to bearish sentiment.
Second, the appearance of a red 9 candlestick from the TD Sequential indicator indicates possible price exhaustion. If Bitcoin falls below $63,300, it could test support at $61,000 or even $59,000. With the current price down 16% from its peak, uncertainty looms over whether Bitcoin will follow the bearish signals or stage a bullish recovery.
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