“The Cross of Death on the Series”: The pattern of Bitcoin flashing, which is historically preceded by the declining direction, warns
Bitcoin (BTC) may be about to enter a declining direction based on the historical market style signal, according to the Glassnode Digital Asset Analytics.
Glassnode He says It indicates that the average price of the average victory price (VWAP) for one month and six months indicates that bitcoin may enter a declining direction for months.
VWAP is the average trading price of the original for a specific period, taking into account both size and price.
“My representation appeared in the series to” the Cross of Death. “The price of BTC has via the 30 -day price to less than 180 days, indicating twice the momentum. Historically, this style preceded three to six months of Habbudian trends.”
A traditional death cross occurs in technical analysis when the moving average decreases for 50 days (MA) to less than MA 200 days and is used to determine the weak market.
Glassnode more Explain Its methodology in the blog post, indicating that it provides a relatively better measurement of the market feelings than the traditional method of death.
“To bring this [death cross] The concept in the field on the series, we build a representative using the likely price on the chain of coins that were transported last month compared to the past six months. This method directly reflects the market morale through the collaboration in both of Matthew and the amount of capital is actually moving on the chain. ”
Bitcoin is trading for $ 82,040 at the time of writing, a decrease of 5.4 % in the past 24 hours.
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