The moving average MA-50 line has crossed below the MA-200, creating a death cross for Bitcoin in 2021. Normally this indicates that a major sell-off is going to happen. But there are numerous reasons for you not to worry, according to Varun GS of CryptoPotato.
What is a death cross? “The death-cross is defined by a cross of the 50-day moving average below the 200-day moving average, which could occur over the weekend.”
☠ Death cross is here ☠
— PlanB (@100trillionUSD) June 19, 2021
Study this chart to see what happened last two times the death cross happened, Q4 2019 and Q1 2020. pic.twitter.com/6u0mgpbonI