PANews reported on January 2nd that crypto analyst Ali Charts noted a recurring pattern on the Bitcoin weekly chart: the interaction between the 10-week simple moving average and the 50-week simple moving average. Historically, whenever Bitcoin experiences a death cross between these two moving averages, it is followed by a significant pullback. Here are some past examples:

• September 2014: -67%
• June 2018: -54%
• March 2020: -53%
• January 2022: -64%

A similar death cross occurred three weeks ago on December 8th. If history repeats itself, a similar 50%-60% pullback would cause Bitcoin's price to fluctuate between $50,000 and $38,000. Personally, I think this range is starting to become interesting from a long-term spot accumulation perspective.