What will January's Bitcoin death cross bring? RektCapital reveals it might be a trip to $22,700 or lower.
) may fall more than 40% from last week's bottom, new data warns as one analyst confronts what he says is now a bear market.on May 20, popular trader and analyst Rekt Capital argued that BTC/USD should dive to near $20,000 to conform to historical norms.has surrounded so-called"death cross" constructions on the Bitcoin chart. These involve the declining 50-period moving average crossing under the 200MA.
Often in the past, such an event has triggered considerable price downside, this then going on to mark what Rekt Capital calls"generational bottoms." "More often than not, the depth of a $BTC correction pre-Death Cross is similar to retrace depth post-Death Cross," he summarized. Both March 2020 and May 2021 broke the rules when it comes to post-death cross losses, however — in both instances, the death cross itself marked the bottom.came after BTC/USD had already declined 43% from its November 2021 all-time highs of $69,000.
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