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Short

Bitcoin approaching a death cross and heading lower

CEXIO:BTCUSD   Bitcoin / U.S. Dollar
The 50 (Green) DMA is approaching crossing under the 100 (Blue) DMA. If this goes ahead, this would trigger a strong signal that BTC will be heading lower.

With the RSI also close to the over bought level, this adds another signal/metric for an impending downward trajectory.

The price has also remarkably followed a supporting trendline for over a month. If a death cross gets triggered and the price falls below this trendline, a downward pattern on 3 signals (death cross, over bought RSI , price falling below a supporting level) will have been confirmed.

At this point, it looks as if a downward pattern will be forming soon.

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