Fundstrat's Tom Lee. View, the upcoming death cross on the three-day chart could push prices below the June low of 5,774 but might mark the final leg of the current bear market. Central banks dramatically reversing their stances shouldn't create so much unease: Invesco. Further, the relative strength index (RSI).00 is biased toward the bears and holding well above the oversold territory (below.00). As that point, both short- and long-term moving averages tend to fall, so a death cross is a bearish signal indicating further losses. The long-awaited bullish reversal is seen gathering steam above the 50-candle SMA on the 3-day chart, currently at 6,629. Above: A Death Cross occurs when the 50-day SMA crosses the 200-day SMA, which looks ripe to happen (image: Investopedia using Tradingview). On the three-day chart, the 50-candle simple moving average (SMA) looks set to cut the 200-candle SMA from above, confirming what is popularly known as the death cross.
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"Fast Money" trader Brian Kelly points out that he sees an uptrend in address bitcoin size the chart of bitcoin that has been in play since August, and thinks that the same uptrend could actually be just as indicative of where bitcoin is headed. Daily chart, over on the daily chart, the violation of the ascending trendline support is backed by the downward sloping 5- and 10-day SMAs. "Bitcoin, just like the spot FX markets, follows technicals closely, therefore these support levels gain more importance he wrote to cnbc. This specific bearish crossover was last seen in December 2014. Disclosure: The author holds no cryptocurrency assets at the time of writing. Wall Street's biggest bear suggests year-end price target is too low 'Earnings growth is grinding to a halt Blackstone's Joe Zidle warns. As a result, the oversold market usually sees a bounce after a bearish crossover is confirmed. There's something in the charts that could have investors hitting the panic button.
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