"The tea leaves don’t bode well for Bitcoin.Bitcoin's ‘Death Cross’ Looms as Strategist Eyes $2,800 Level - Bloomberg
Traders who look for future price direction in chart patterns are finding more indicators suggesting the world’s largest digital currency may have further to fall.
Bitcoin’s 50-day moving average has dropped to the closest proximity to its 200-day moving average in nine months. Crossing below that level -- something it hasn’t done since 2015 -- signals fresh weakness to come for technical traders who would dub such a move a "death cross." Another moving-average indicator of momentum has already turned bearish."
Friday, March 16, 2018
Bitcoin's ‘Death Cross’ Looms as Strategist Eyes $2,800 Level - Bloomberg
If you haven't done so yet, you might also want to Watch John Oliver explain Bitcoin using $15,000 Beanie Babies and rap videos (The Verge)