Bitcoin risks losing the $27,000 support zone with BTC price weakness suffering at the hands of a death cross.
BTC/USD 1-hour chart. Source: TradingViewAnalyzing intraday performance, popular trader Skew noted the interplay between two moving averages , along with a so-called “death cross.”
“Here we technically just had the death cross, so if we head lower kinda leaning towards a squeeze eventually to test 200D MA again before trending,” part of X commentary “Bears have price control here with loss of 4H EMA trend, if price recovers above $27.3K I will see that as strength,” he wrote. Fellow trader Crypto Tony revealed that he was already short BTC, having triggered the change as Bitcoin dropped below $27,200.
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