Cross of Death Pattern on Bitcoin Chart

Lark Davis warned of the emergence of a dangerous figure on the chart of the first cryptocurrency, which usually precedes a decline in the value of an asset
Crypto analyst Lark Davis warned on Twitter that a “death cross” pattern is forming on the Bitcoin chart. Davis recalled that the “cross of death” was formed on the chart of the first cryptocurrency eight times in the entire history of the asset.
The death cross in technical analysis is formed when the 50-day moving average crosses downward from the 200-day moving average. This pattern indicates a possible decline in the value of an asset.








#bitcoin is about to hit the much feared "death cross"… but does it matter? 
Well, there have been 8 death crosses in BTC's history. 4 marked the bottom (approximately), and 4 came before sell offs of 30, 60, 61, and 65%. 
 
 
 





 
 
 
What will death cross number 9 have in store for us? pic.twitter.com/RHmE3ulEMp







— Lark Davis (@TheCryptoLark) January 13, 2022
 





The last time a “death cross” was seen on the bitcoin chart was last June. Then the value of the cryptocurrency fell to $28,000 for the first time since January 2021 (a 56% drop from the high of $64,000 set by the asset in May last year).
 
 
 





 
 
 

16.
This sort of symmetry would be in line with history as #BTC crashed an extra -55% post-Death Cross after the June 2019 peak
But if history were to repeat itself with a -65% or -71% crash…
That would result in a $14000 and $11500 $BTC which both seem very unlikely pic.twitter.com/TJ9oAB140Y
 
 
 





 
 
 
— Rekt Capital (@rektcapital) June 1, 2021
 
On January 13, Bitcoin is trading at $ 43.7 thousand. During the day, the asset has risen in price by 2%, and its capitalization has increased to $ 830 billion, according to CoinGecko.