I just noticed an interesting point on the Bitcoin chart — on the three-day timeframe, a so-called death cross has formed, when the 50-day moving average crosses downward through the 200-day moving average. This is a classic bearish signal that has historically often preceded serious corrections.

Interestingly, every time such a cross appeared since 2014 during bear cycles, Bitcoin then experienced a sharp decline. During the 2018 crypto winter and the 2022 downturn, the asset lost about 52%, and in 2014, the drop was even worse — around 57%. If history repeats itself, a 52% decline from the crossover point could bring the price down to approximately $36,000, which coincides with the Fibonacci extension level.

Current situation: Bitcoin is trading below both trend lines after losing momentum near $70,000. Although at the beginning of the month, BTC rose to $74,000 due to short squeezes and inflows into spot ETFs, but the momentum quickly exhausted itself. At the time of writing, the price fluctuates around $77,500, but this is still significantly below the 200-day SMA at $96,080.

The technical picture shows that if the death cross confirms, the range of $40,000–$36,000 could become a potential accumulation zone. The RSI is currently in the neutral zone — around 45 — which does not give a clear signal in either direction. It’s worth watching how prices behave around key levels.