Currency Economy

Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Cryptocurrency19 minutes ago (Jun 13, 2021 10:20PM ET)Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion.

For new traders, the name death cross itself brings a lot of negativity and a feeling of impending doom. This sentiment can trigger selling panics, especially if the market has already been going through a bear phase prior to the pattern being spotted.LTC/USD daily chart. Source: TradingViewBTC/USD daily chart. Source: TradingViewBTC/USD daily chart. Source: TradingView

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