Crypto: Bitcoin Trend Line Cross Mimics 2022 Amid ‘insane’ BTC Vs. Silver...

Bitcoin saw two long-term moving averages cross over for the first time since April 2022 in a fresh BTC price bear market warning.

Bitcoin (BTC) bear market comparisons are growing as the weekly BTC price chart repeats April 2022.

Two long-term BTC price trend lines stage a bearish crossover for the first time since April 2022.

Last time, Bitcoin took around seven months before it hit a long-term bottom.

Against silver, BTC is already at its 2022 bear market bottom level.

New market coverage from trader and analyst Rekt Capital reveals a bearish crossover involving two key BTC/USD trendlines.

Bitcoin is raising fresh questions over a new bear market beginning after its 21-week exponential moving average (EMA) crossed beneath its 50-week equivalent.

The event, which completed at the latest weekly candle close, last occurred in April 2022.

“The Bitcoin Bull Market EMAs have officially crossed over,” Rekt Capital confirmed Monday.

2022 was Bitcoin’s last true bear market year, coming on schedule in accordance with its four-year price cycle. BTC/USD took until November to find a macro bottom, which came in at $15,600 — a level that has never since been challenged.

Source: CoinTelegraph