I noticed an interesting technical signal on the three-hour chart of Bitcoin.

A so-called death cross has formed — when the 50-day moving average drops below the 200-day moving average.
Historically, this pattern precedes serious declines, especially during bear markets.
Since 2014, each time it has led to a correction of about 52-57 percent.

Considering the current price around 77-78 thousand, if history repeats itself, the target zone could be somewhere between 36-40 thousand dollars.
Interestingly, these levels coincide with Fibonacci extensions, which previously marked the bottoms in the 2018 and 2022 markets.
The Fibonacci sequence accurately predicts these support points.

Bitcoin is currently trading below both moving averages — the 50-day at 75.5K, and the 200-day at 96K.
This is a classic bearish signal.
The RSI at 45-46 indicates a neutral zone, so the momentum is not very extreme yet.
But the structure is clearly weakened after failing to hold the 70K level.
Earlier, there was a rally to 74K, but it proved to be short-lived.
It will be interesting to see if the 40K level holds as the first resistance or if the market drops straight to 36K.
Fibonacci levels make these zones especially important for accumulation.