Bitcoin ‘death cross’ sees BTC price dip $1K, erasing ‘Uptober’ gains

Fellow trader Crypto Tony revealed that he was currently short BTC, activating the change as Bitcoin dropped below $27,200.$ BTC/ $USD – Update Lost the assistance zone overnight, so according to the strategy i will be shorting this down while below the $27,200 level pic.twitter.com/dorNjbXObD— Crypto Tony (@CryptoTony__) October 11, 2023

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Source: TradingViewBTC price battles for support after daily “death cross” Data from Cointelegraph Markets Pro and TradingView tracked increasing overnight BTC rate weak point, consisting of a journey to $26,978 on Bitstamp.Bitcoin therefore came complete circle for October, erasing all of the gains seen after the September month-to-month close.Analyzing intraday performance, popular trader Skew noted the interplay in between 2 moving averages (MAs), along with a so-called “death cross.” Bears have rate control here with loss of 4H EMA pattern, if price recuperates above $27.3 K I will see that as strength,” he wrote.”$ BTC 4HBears have rate control here with loss of 4H EMA trend if cost recuperates above $27.3 K I will see that as strengthMore notably any recovery requires to be area driven from here imo, wont guideline out a capture.

“Would have expected a more immediate buyback– this recommends the market desires to traverse lower,” part of his latest commentary added.Will Bitcoin print pre-halving “macro low? An accompanying chart provided a target of around $20,000 as part of the build-up to Bitcoins next block aid halving event in April 2024. Must a macro low hit, Bitcoin would be copying habits from last cycles pre-halving year, 2019, it showed.BTC/ USD annotated chart.

Source: TradingViewBTC price battles for support after everyday “death cross” Data from Cointelegraph Markets Pro and TradingView tracked increasing over night BTC rate weak point, consisting of a journey to $26,978 on Bitstamp.Bitcoin therefore came complete circle for October, eliminating all of the gains seen after the September monthly close.Analyzing intraday efficiency, popular trader Skew noted the interaction between 2 moving averages (MAs), along with a so-called “death cross.” In March, he noted the 100-day MA crossed above the 200-day equivalent– a “golden cross” occasion that traditionally marks upside to come.” Bears have cost control here with loss of 4H EMA trend, if rate recovers above $27.3 K I will see that as strength,” he composed.”$ BTC 4HBears have cost control here with loss of 4H EMA trend if rate recuperates above $27.3 K I will see that as strengthMore significantly any healing requires to be spot driven from here imo, wont rule out a capture.