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Opinion: If Bitcoin falls below the "bull-bear dividing line" 50-week moving average, it may face a 60% decline
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ChainCatcher News, according to analyst @ali_charts, if bitcoin falls below the "bull-bear dividing line" 50-week moving average, it signals the arrival of a bear market. This pattern has been confirmed by the price movements in 2011, 2014, 2018, and 2020.
If the previous trend repeats, bitcoin will face a 60% drop, which means it could bottom out around $40,000.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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