Bitcoin (BTCUSD) Daily Chart

 

The impending death cross between the 50MA and 200MA seems unavoidable, yet it doesn't automatically spell doom.

The price is expected to rally towards the Death Cross eventually, and its response to the 200MA (white line) will be revealing. A rejection would signal trouble, while a reclaim would be positive, potentially indicating a significant bear trap.

The current price behavior resembles the green highlighted lows from November - to January, so market participants should watch for a similar pattern to develop.