10 hour ago
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Bitcoin In Bullish Confluence: Death Cross And Key Support Signal Upside
Bitcoin's technical analysis reveals a significant signal known as the "Death Cross," occurring at a major structural support level. This suggests a potential shift from the recent price dip towards an upward bounce.
- Bitcoin has fallen to the $96,000 range, with the former range low of $100,460 now acting as key resistance.
- If Bitcoin retests and reclaims the $100,460 mark, it could lead to bullish momentum with a target near $103,460.
- Despite recent declines, there remains substantial liquidity and support below current prices.
The Death Cross, typically seen at market bottoms, aligns with Bitcoin touching the lower boundary of its expanding megaphone pattern. This confluence indicates a high probability of an upward movement, potentially marking the end of the downtrend. The chart structure supports a short-term recovery move for Bitcoin.
