BITCOIN posted a Death Cross on 4H. See why it can be dangerous.

A lot of traders are panicking over Bitcoin's recent pull-back after the roughly $12500 top.

** The Death Cross **
What adds to their concerns is the fact that the 4H chart just formed a Death Cross. That is when the MA50 crosses below the 4H MA200. Last time that happened on the 4H chart, was on June 18th and after a temporary jump, the price made one final Low on June 27th and consolidated before the late July bullish break-out rally.


** The Channel Down **
The primary pattern is an Arc and the secondary a Channel Down. The latter seems to be dictating the trend currently as every Lower High it made since August 20th, was a rejection on the (4H) MA50. The current Death Cross took place on the 3rd successive MA50 rejection. Every Lower High/ MA50 rejection provided a Lower Low within the Channel Down.


** The MACD & RSI Tops **
On top of that, the two primary indicators I use, the MACD and RSI, both display bearish formations, namely Double Tops. The MACD additionally is close to print a Bearish Cross. Last time that happened, was on the previous Lower High of the Channel Down.


All the above construct a bearish framework for BTC on the short-term. But as my recent publication shows, that shouldn't worry long-term investors. Inside a Bull Market, pull-backs are healthy corrections that should be treated as buy opportunities.

Also keep in mind that even if Bitcoin is bearish on the short-term, there are some very good buy opportunities on other coins to take advantage off. The strongest of which is in my opinion NewsCypto Coin (NWCUSDT) as shown below: