$BTC BEARISH CROSS on the 20 / 200 DMA We had a similar setup at the end of September of 2021 where CRYPTOCAP:BTC then rallied a week later ~75% over the next few weeks.
However, every other time this bearish cross occurred in the past, ₿itcoin has spent at least a couple months trying to reclaim the 200DMA.
Currently PA has closed the Day below the 200DMA.
Bulls CANNOT afford a Weekly close below $106k, which is well outside the DANGER ZONE and .382 Fib
GOOD NEWS: An Inverse Head & Shoulders pattern has formed.
Bulls need some big volume days to come reverse the localized downtrend ASAP.
If not, the 50WMA will be tested ~$103k.
If that happens, Bulls must not show any weakness nor allow Weekly Closes below it.
