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  • BTC/USD lost over $3,000 of its valuation this Thursday.
  • The SMA 200 has crossed over the SMA 20 to chart the death cross.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD had a historically devastating day this Thursday, as its valuation fell from $7,946.70 to $4,830. It lost over $3,000 of its valuation in just one single day. The RSI has dipped to 13.33 as it trends deep in the oversold zone, while the MACD indicates increasing bearish correction. After failing to protect the $5,000 support line, the bulls will need to bolster their defenses and launch a comeback soon otherwise, it won’t be surprising to see BTC/USD trend below $4,000. The SMA 200 has crossed over with the SMA 20 to chart the heavily bearish “death cross” pattern. 
 

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