I just noticed that Bitcoin recently formed a death cross on the 3-day chart—that's when the MA50 drops below the MA200. This signal is not considered good; history shows that whenever it appears in a bear market, prices tend to fall sharply. In 2022 and 2018, when this cross occurred, Bitcoin dropped about 52%, and in 2014, it was even worse, declining up to 57%.

If history repeats itself, Bitcoin could reach the $36,000 level from the current crossover zone. Analysts see the $40,000 to $36,000 range as a potential accumulation zone, based on the Fibonacci 1.618 level that appeared during previous declines. Bitcoin price today is at $78.02K, but it is currently trading below both the MA50 and MA200, indicating that market strength is weakening.

However, the 14-day RSI is currently at 45.93, still in the neutral zone, not yet in oversold territory. Previously, BTC approached nearly $74,000 thanks to short squeezes and inflows into spot ETF funds, but the rally quickly lost momentum. All of what just happened seems to be a temporary bounce before the market continues downward. It’s important to monitor whether Bitcoin price today breaks through key support levels.