Bitcoin Paints Two Extremely Bearish Patterns: Death Cross and Double Top

Bitcoin prices rallied Wednesday to reach an intraday top at about $6,983 but the move did not improve its bearish outlook for the rest of the month.
The bitcoin-to-dollar daily chart saw the formation of two extremely bearish patterns: Death Cross and Double Top. The former appeared after bitcoin’s short-term moving average slipped below its long-term moving average. Meanwhile, the latter appeared as the price reached a peak two consecutive times with a moderate decline between them.
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