Bitcoin Faces Potential Price Correction Amid Historical Patterns

According to PANews, cryptocurrency analyst Ali Charts has identified a recurring pattern on Bitcoin's weekly chart involving the interaction between the 10-week and 50-week simple moving averages. Historical data indicates that whenever a death cross occurs between these two moving averages, Bitcoin experiences a significant price correction. Previous instances include: September 2014: -67% June 2018: -54% March 2020: -53% January 2022: -64% A similar death cross was observed three weeks ago on December 8. If history repeats itself, Bitcoin could face a 50%-60% correction, potentially fluctuating between $50,000 and $38,000. From a long-term spot accumulation perspective, this range is becoming increasingly interesting.