Bitcoin Nears Key Technical Signal as Risk of Double Death Cross Grows

Bitcoin (BTC) is quietly approaching a rare and potentially bearish technical setup on the daily chart: the risk of back-to-back death crosses. Currently trading just above $76,000, BTC remains within a familiar range, but the momentum tells a different story.

The 23-day simple moving average (SMA) has already crossed below the 200-day SMA. Now, it's on track to dip under the 50-day SMA as well—signaling a second consecutive bearish crossover if short-term momentum doesn't rebound soon. These signals, while not indicating a market crash, point to a weakening trend that technical analysts are closely monitoring.

Recent price action reinforces this shift. Bitcoin’s attempt to break through the $84,000–$86,000 resistance zone was rejected on high volume, adding weight to bearish sentiment. Strong red candles with rising participation hint at growing selling pressure.

Although support remains near the $74,000 mark, the market appears cautious. A firm hold above this level might offer temporary stability. However, dipping below it could trigger a more negative narrative, potentially accelerating downside pressure.

Despite this, Bitcoin isn’t crashing—it’s drifting. The current pattern lacks the drama of sharp corrections but could signal a medium-term momentum loss. Traders and investors watching macro indicators will likely be eyeing these SMA crossovers as key clues to BTC’s next direction.

With sentiment fragile and ETH/BTC continuing to weaken, Bitcoin’s path forward hinges on whether buyers step in soon or let the charts get heavier. The technicals may not scream “danger,” but they whisper enough for smart money to take notice.