As seen on the chart above, Bitcoin saw a Death Cross in 2021 that caused a month-long bearish period. It took a couple of months before the 50-day SMA crossed the 200-day SMA again. Fast forward to 2022, and we see a similar pattern.
If the market experiences sustained FUD in the next few weeks, Bitcoin price may not be able to escape from bear territory anytime soon. Meanwhile, there appears to be a market indecision displayed by the low trading volume. Once the market sees more trading activity, Bitcoin may be able to regain its footing and begin its rally anew.
If the market experiences sustained FUD in the next few weeks, Bitcoin price may not be able to escape from bear territory anytime soon. Meanwhile, there appears to be a market indecision displayed by the low trading volume. Once the market sees more trading activity, Bitcoin may be able to regain its footing and begin its rally anew.