Bitcoin, after breaking through the trend line, the focus is on the support at 88,800 Dollar ── XRP is in sight of a dead cross | CoinDesk JAPAN

• Attention is focused on the $88,800 that has shifted from resistance to support due to the Bitcoin trend line breakthrough.
• XRP is falling below the 50-day moving average and is approaching a bearish signal known as a “dead cross.”

According to TradingView’s chart, Bitcoin fell by 1.5% on the 4th of Coordinated Universal Time (UTC) and sharply dropped from the trend line connecting the lows of April 9 and April 20.

The fact that it has broken below the ascending trend line, which is a demand zone, suggests that the upward recovery from the low of April 9, which is below $75,000, may have run its course, indicating a possibility that the price could drop sharply again. Similar signs can be read from the hourly chart, where the price has broken below the cloud of the Ichimoku Kinko Hyo momentum indicator.

Regarding the lower range, the $88,800 that capped the rise on March 24 and April 2 may serve as an important support level, suggesting that if this is tested again, it could become a significant price point.

[Bitcoin 1-Hour Chart (TradingView/CoinDesk)] The bearish 1-hour chart situation carries the risk of being invalidated if it breaks above the Ichimoku cloud again. In that case, a bullish outlook towards 100,000 Dollar is likely to return.

XRP Dead Cross

XRP has also lost momentum in its recovery from the low on April 7, and the price has fallen below the 50-day simple moving average (SMA).

Moreover, it is important that the 50-day SMA is showing signs of falling below the 200-day SMA. This indicates a long-term bearish sign known as a “death cross.”

In the context of the overall downtrend since mid-January, the completion of a dead cross is imminent, increasing the risk of stronger selling. However, it is important to note that the historical performance of dead crosses in price trend predictions has been mixed in both the Bitcoin market and traditional markets.

[XRP Daily Chart (TradingView/CoinDesk)]｜Translation & Editing: Rina Hayashi | Image: CoinDesk Archives ｜Original: Bitcoin’s Support at $88.8K in Focus After Trendline Break; XRP Eyes Death Cross: Technical Analysis

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