BTC/USD annotated chart. Source: Crypto Tony/X
Monitoring resource Material Indicators meanwhile eyed a so-called “death cross” on the weekly chart. The death cross occurs when certain moving averages collide, and here, the 21-week MA was on course to head below the 200-week equivalent. “The 21-Week and the 200-Week Moving Averages are on a collision course for a DeathCross on the BTC Weekly candle Close/Open,” it“The 50-Week MA, may provide some temporary support and even trigger a short term rally, but if PA takes us there, it will print a LL which I believe opens the door to grind down to test $20k,” it added.
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