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Analysis: The monthly MACD of Bitcoin has formed a death cross, and the previous three declines have all exceeded 60%.
On November 24, according to analyst @ali_charts, the Bitcoin MACD monthly line has formed a death cross. Historically, during the last three instances when the monthly MACD turned bearish, the Bitcoin price averaged a decline of about 60%. If we follow this logic, Bitcoin could potentially drop to as low as $40,000 this time.