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Viewpoint: If Bitcoin breaks below the "bull-bear dividing line" of the 50-week moving average, it may face a 60% fall.

On November 7th, according to analyst @ali_charts, if Bitcoin falls below the “bull-bear dividing line” of the 50-week moving average, it indicates that a Bear Market has arrived. This pattern has been validated by the trends of 2011, 2014, 2018, and 2020. If the previous trends are replicated, Bitcoin could face a 60% fall, which means it would bottom out around 40,000 dollars.

BTC3.01%
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