BTC/USD, Technical Outlook, Edition #151 (24/11/2021)
🔎 Bitcoin is under the microscope. Read on to catch up with Q in tonight's discussion of emerging bearish confluence, Death Crosses and the Holy Mackeral 👇
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A wise old fisherman once said, 'there is no glory in a bucket of fingerlings'
Q opens tonight's technical perspective with remarks on an apparent 'death cross' that develops on the Bitcoin price chart.
Death Cross: Downward convergence of the 20-day exponential moving average (D1 20 EMA) and 50-day moving average (D1 50 MA) indicators
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One question persists from yesterday's report - will this lagging indicator imply further downside to come, or is the worst behind us?
Determining a response to this enigma first requires a reading of the technicals. Accordingly, Qluster analysts attempt to glean insight below from recent price action.
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