Bitcoin (BTC) is trading slightly above 76,000 USD amidst a concerning double death cross threat on its daily chart. The 23-day simple moving average has fallen below the 200-day average, leading to a possible second bearish crossover at the 50-day SMA.
Price attempts to recover to 84,000-86,000 USD have been met with heavy selling, indicating market resistance. If BTC slips below 74,000 USD, sentiment may shift toward bearish, raising concerns among traders.
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