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Since Bitcoin failed to maintain the $ 100,000 psychological barrier earlier this year, his bullish momentum gradually unraveled. The decline has deepened in the past two months, Bitcoin negotiating between $ 75,000 and $ 79,000 in April. The bullish perspective becomes very low, and the cryptography sector is Technical clarity search In the midst of an accumulation of pressure on traditional markets, in particular with actions.
Given the situation, Crypto Tony Severino analyst noted that the current configuration offers a major movement that could invalidate a prolonged down momentum.
Tony “The Bull” identifies an important LMACD inflection point to reject the down hypothesis
According to Tony “The Bull” Severino, The most important graphic Development is the lowering crossing that comes into the 1 month Bitcoin LMACD indicator. The LMACD, which follows the momentum of the market on a logarithmic scale, currently shows the blue line drifting towards a crossing under the Orange signal line.
Related reading: The CEO of Crypto reveals why the Haussier de Bitcoin market is finished with an accident below $ 80,000
This type of intentional crossover is known to be significant low -cost confirmation, And its appearance has coincided with growing weakness in wider markets, including traditional clues such as S&P 500 and Nasdaq.
Although the crossover has not yet been confirmed by a monthly fence, its presence at the opening of April is enough to arouse concern. Severino explained that less than a significant rally occurs before the end of the month, the blue line will cross under the orange line and the momentum will officially become lower. If the month closes with the intact crossover, it will mark the Confirmed dowry Pass on the LMACD since the bullish overthrow in July 2023.
Bitcoin Bulls always have a window to return the outlook before the end of April
According to Tony Severino, this crossover is Not the only reason To rely on the medium -term trajectory of Bitcoin, but it stands out as the most precise technical marker that could trigger a rethink. Crossover is not isolated from the Bitcoin price table. Severino pointed out that the same bearish crossover has already been confirmed last month in major indices such as the S&P 500 and the Nasdaq 100. It is interesting to note that the crossover has already presented in the GOL graph against gold, supporting more the idea that Bitcoin does not move in isolation but reacting to macro pressures.
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Despite the downward tilt, the situation is not yet final. The current crossover is temporary, which means that there is Always time for bulls To reverse the signal. A powerful upward movement this month could diverge the blue LMACD line, restore ascending momentum and invalidate the downstream configuration before it solidifies. The analyst also noted this possibility of a rebound given the current levels of occurrence. Indeed, the technical conditions of occurrence generally creates the type of environment where a spectacular reversal is possible.
At the time of writing this document, Bitcoin is negotiated at $ 77,260, down 2.23% and 8.93% in the last 24 hours and seven days, respectively.
Felash star image, tradingView.com graphic
