The price of Bitcoin shows signs of bearish momentum because it is inching closer to a vital technical signal.
The imminent Death Cross formation indicates that the 50-day moving average will surpass the 200-day moving average.
Notably, Death Crosses have failed to maintain predictability for downward pressure across recent market situations.
Bitcoin has proven indestructible to these patterns because it continued its upward trajectory.
Traders remain unsure if this indicator signal indicates an authentic market change or will lead to another brief downturn.
The present market data indicates the price of Bitcoin maintains a value of $83,580 while showing a minor 2.05% increase in daily price.
Currently, the cryptocurrency persists in a downtrend while resting beneath all EMAs from 20-day up to 200-day.
According to the current price levels, market sentiment remains bearish.
Price of Bitcoin Golden Crosses Spark Strong Rallies
During crucial recovery periods, BTC price previous Golden Crosses generated substantial price increases, from which confidence remained positive.
After the 2022 economic downturn, Bitcoin registered three Golden Crosses alongside two Death Crosses, which affected its price momentum at various points.
The price of Bitcoin started an extensive upward shift following its first post-FTX crash, Golden Cross, prompting a rise to $21,000.
The market surge lasted until a Death Cross emerged at $25,000 in September 2023.
The market reacted cautiously despite fears, which caused the price to remain stable and reveal a fake bearish signal.
BTC rose after a Golden Cross formed at $35,000, bringing forth another momentum upward phase.
At $61,000 in August 2024, the crypto produced another Death Cross.
Against expectations, the market moved upward instead of declining after the price change.
Historical data implies that the Death Cross operates as an unstable signaling device.
Traders experience confusing market trends at present.
The indicator delivering reliable price support is Golden Cross, yet Death Cross is less predictable in its outcomes.
The present market uncertainty makes the validity of trends as trading signals questionable.
Technical Indicators Signal Growing Selling Pressure
The price of Bitcoin stays relatively calm because all essential exponential moving averages sit above its current position.
The first resistance point is $84,511, corresponding to the EMA 20, whereas the 200-day EMA at $85,391 represents the primary extended-term barrier.
Price action remains negative when sellers prevent the market from breaking through these levels of support.
According to the current Relative Strength Index reading of 42.82, market buying strength has decreased.
According to the RSI values, a further decline of bullish momentum appears likely, although the price has not reached an oversold state.
New indicators from the RSI-based moving average (46.73) determine a decline in market momentum.
MACD shows signs that point toward negative, bullish outcomes.
The MACD line exists at -1,146.02, and the signal line rests at -1,111.81. The histogram reading of -34.21 reveals growing selling pressure in the market.
Bitcoin requires a major motivating factor to recover its strength because the current market indicators do not favor positive price movement.
Multiple moving averages operate as obstacles to prevent Bitcoin from recovering its prices.
Hitting prices below $80,000 could initiate a more negative movement in the coming days.
Price Holds Near Bottom Trading Range
Bitcoin maintains its position near the bottom end of its trading area, which suggests an upcoming period of previous movement.
The next substantial support for the price of Bitcoin exists within the range extending from $75,000 to $78,000 after dipping below $80,000.
Further selling activity might intensify when the cryptocurrency breaks its lower trading range, expanding the downtrend.
Strong, continuing market momentum is required for Bitcoin to overcome the resistance at $84,511.
If Bitcoin crosses the 50-day EMA at $87,442, it could facilitate a trend change.
A lasting increase in prices above this threshold would significantly oppose the present bearish market attitude.
The Bitcoin price trends demonstrate that Death Cross indicators sometimes fail to create price declines.
The current technical indicators show signs of weakness that need urgent resolution to prevent an approaching deeper market correction.
The market’s reaction over the upcoming sessions will create short-term guidance points.
Day traders examine momentum shifts by following volume indications, moving average crossover patterns, and sentiment pattern changes after the support zones experience testing conditions.
At this time, the price of Bitcoin maintains its current exposure to downside risks and resistance levels.
