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A significant technical signal has emerged in the Bitcoin market—the "death cross" where the 50-day moving average crosses below the 200-day moving average. This pattern has traditionally indicated a slowdown in the upward momentum and has appeared in conjunction with the recent decline in Bitcoin prices.
Opinions are divided on how to interpret this situation. Some traders are concerned about further downward pressure and a market correction, emphasizing that whether key support levels are maintained will be the focus moving forward. On the other hand, some investors are exploring the possibility of a rebound, and the supply-demand balance at this level could become a turning point.
In any case, to understand the next direction of the Bitcoin market, it is essential to closely monitor the movements of major support and resistance levels. The warning signal of the death cross continues to heighten market participants' caution.