On X, analyst and DecenTrader founder Filbfilb, noted bitcoin prices follow a pattern that signals it could go lower in the days to come. 

<blockquote className="twitter-tweet"><p lang="en" dir="ltr">3 Day red with a break below 50 DMA. <br /><br />There are a few examples of this happening in the past.<a href="https://t.co/8Hq7lyQEwk">https://t.co/8Hq7lyQEwk</a></p>— filbfilb (@filbfilb) <a href="https://twitter.com/filbfilb/status/1748144057010851858?ref_src=twsrc%5Etfw">January 19, 2024</a></blockquote> 

According to him, three-day chart crosses below the daily 50-period simple moving average (DMA) tend to result in a downward trend. Previously, Filbfilb accurately estimated bitcoin reaching $48,000 around the time of spot bitcoin exchange-traded funds were approved by the U.S. Securities and Exchange Commission. 

On Jan. 19, BTC price action fell to $40,600. The price of bitcoin price has since rebounded and is at $41,644 as of Jan. 21, 12:30 PM Hong Kong time.  


He correctly predicted bitcoin topping at $48K.


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