Bitcoin Sees Historic Death Cross On 3-Day Chart — What Does This Mean?
The post Bitcoin Sees Historic Death Cross On 3-Day Chart — What Does This Mean? appeared on BitcoinEthereumNews.com.
Market analyst Ali Martinez highlights a recent development on the Bitcoin 3-day chart with significant bearish implications. The leading cryptocurrency still trades just below the $70,000 mark following the temporary breakout earlier this week. Bitcoin has now spent an overwhelming majority of the last month within the $60,000 – $70,000 price range, after prices crashed to a new market low in late January/early February amid the extended bearish season. Bitcoin Set For Another Leg Down? In an X post on March 6, Martinez shares a key macro insight on the Bitcoin price trajectory, using historical data from the 3-day trading chart. The seasoned analyst explains that the formation of a particular death cross has consistently preceded the final price drawdown in the market cycle. Generally, the death cross represents a bearish technical indicator where a short-term moving average falls below the long-term moving average, indicating that recent price momentum has weakened relative to the longer-term trend, and there is rising selling pressure coupled with a potential prolonged downturn. The common version of the death cross appears when the 50-day moving average crosses below the 200-day moving average, and is a key bearish indicator in the Bitcoin market, according to observations shared by Martinez. In 2013, Bitcoin had notably crashed by 72% before the 50/200 SMA death cross appeared. Thereafter, the market leader recorded an additional 52% price fall, before reaching a price bottom. Bitcoin $BTC 3-day chart has been one of the most important timeframes from a macro perspective. What matters most for me in this timeframe is the interaction between the 50 and 200 simple moving averages. — Ali Charts (@alicharts) March 6, 2026 A similar pattern is observed in 2017, when Bitcoin declined by 67% from its market peak before the appearance of the death cross, which triggers…
Filed under: News - @ March 7, 2026 11:25 am