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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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Dots

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Decorating the tree

Decorating the tree

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Sunday, January 23, 2022

Bearish Death Cross Forms on Bitcoin

I last wrote about Bitcoin (BTC/USD) in my post of December 29, 2021.

A bearish moving average Death Cross has formed on the daily timeframe, as shown on the chart below.

A break and hold below 30,000 could send price crashing down to 20,000, or lower.

By the way, my above-mentioned post also compared the price action of Virgin Galactic Holdings Inc. (SPCE) with Bitcoin's.

Since that time, SPCE has continued its plunge downward to its close last Friday of 8.47...below its IPO price of 10.50 in September of 2017.

We'll see if Bitcoin's fate is, ultimately, similar to that of SPCE!



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