Bitcoin Death Cross 2019 - Setup
The story of the 2019 Bitcoin Death Cross starts on June 26 when the yearly high price of $13,410 occurs. For the next ~4 months the price is in decline until Oct 24 when Bitcoin sinks to $7,443. This decline leads to a very predictable death cross setup.
The daily price chart shows the 50 day moving average is ready to fall below the 200 day moving average. Many stock traders have entered into short positions for Bitcoin as they have successfully made profits by following this strategy in the stock market.
However Crypto whales have also been watching Bitcoin price movements and have a different plan. Meanwhile the QC Trend algorithm is flashing a bullish trend.
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