The so-called death cross is a bearish indicator for Bitcoin

None Bitcoin has charted a so-called death cross with recent selling of $7,400. The bearish cross comes as a result of the 49 percent slide from the 2019 high of $13,800, and as such is a lagging indicator.

None Historical data shows BTC tends to bottom out after a death cross.

None The cryptocurrency picked up a bid at press time, but is yet to invalidate the bearish case with a move above the Sept. 30 low of $7,714.

The death cross is the product of the 47 percent slide from the high of $13,880. After all, the 50 day MA responds to the data that is at least 2.5 - months old and the 200 day MA is sensitive to 6.5 - month old data.

On June 26 in the BTC, BTC topped out at $13,880 and fell to $9,000 in mid-July. The 50 - day MA, however, continued to rise and topped out in mid-August, 6 weeks after BTC topped out above $13,800.

All-in-all, it seems safe to conclude that the death cross is a bearish indicator and happens when most of the correction has already taken place, as tweeted by popular trader CryptoTutor after the confirmation of the lagging cross on March 31, 2018.

The latest bear cross poses the same threat, as prices have already fallen more than 45 percent. In fact, BTC is showing signs of life on confirmation of the death cross.

At press time, BTC is changing hands at $7,600 on Bitstamp, after having picked up a bid near $7,393 earlier today. That said, it is still too early to call bullish reversal.