Bitcoin: Death Cross Rally - A Look at Price Movement and Market Performance

📈 A death cross is a lagging indicator that often results in a temporary price pump.

💡 In the past, there was a rally into the death cross in 2019, but it is not expected to be as substantial this time.

🔄 The current drop below the 20-week moving average is about half the size of previous drops.

⚡️ Bitcoin experiences a fake rally followed by a substantial rally in the death cross rally of 2019, but weekly closes remain below the 20-week SMA.

🐂 In a downtrend, occasional rallies occur to test the 20-week moving average, but multiple consecutive weekly closes above it are unlikely.

📈 The bull market support band ranges from around 27k to 28k, and the expectation is to not have multiple consecutive weekly closes much above 28k.

📉 Bitcoin has not yet reached its previous low of $24,770.

🪜 Bitcoin rallies can impact altcoins negatively on their Bitcoin pairs.

💹 Bitcoin dominance has been consistently increasing compared to altcoins.

📈 Bitcoin has outperformed most altcoins in this rally.

🔝 Bitcoin is relatively stronger than Ethereum in terms of price performance.

Bitcoin has shown relative strength compared to altcoins in the pre-halving year.

Bitcoin's current trend is uncertain due to the absence of a lower low, but there are speculations of a potential downtrend.

Past market patterns indicate that Bitcoin's rallies often result in lower highs and lower lows.

💡 Bitcoin has experienced a death cross rally.

📉 The trend of Bitcoin going up and down throughout the year is expected to remain intact.

📊 The dominance of Bitcoin going higher indicates a healthier overall market.

There are three possible scenarios for Bitcoin's price movement: a move down, a move up to a lower high, or a move up and then a fade down.

The altcoin market is expected to have lower highs and not surpass the high of 377 billion this year.

Bitcoin dominance has been above the bull market support band for the entire year, indicating a likely continued rally.

When Bitcoin rolls back over after the death cross rally, the altcoin market will be affected on both their Bitcoin and USD pairs.

During death cross rallies, the entire market tends to rise, but individual cryptocurrencies may still have mixed performance.

📈 Bitcoin is up about a couple percent this week.

⚰️ Expectation of a death cross rally, with the overall trend remaining intact.

🔄 Rallying into death crosses and golden crosses is common, with the trend continuing afterwards.