Crypto: Bitcoin Still Due 'next Leg Down' As $73k BTC Price Precedes Death...

A new Bitcoin death cross would ensure continuation of the bear market unless a "major bullish catalyst" appears, per new BTC price analysis.

Bitcoin (BTC) needs a “major bullish catalyst” to avoid canceling out its March rally, says the latest analysis.

New findings warn that short-term BTC price strength does not remove the risk of the bear market continuing.

Bitcoin faces plenty of overhead resistance in the mid-$70,000 zone.

A “death cross” formed of two weekly trend lines is still on course to confirm this week.

In an X update on Wednesday, Keith Alan, cofounder of trading resource Material Indicators, warned that BTC price weakness was still present beyond low time frames.

Bitcoin hit monthly highs of $73,019 at the day’s Wall Street open, continuing a rebound that accompanied renewed conflict in the Middle East.

While this quickly led to predictions of a bull market comeback and even new all-time highs, Alan was frank about the BTC price outlook.

“This is an important candle to watch on the $BTC chart,” he summarized.

Alan referred to various key levels near the spot price, including the 21-day simple moving average (SMA) at around $67,550, per data from TradingView.

Source: CoinTelegraph