There are often people in the market who make predictions based on technical indicators, especially in the field of encryption currencies. Recently, many have mentioned that the weekly chart of Bit has formed a death cross, believing that this indicates an imminent big dump. However, this oversimplified analysis may mislead investors who are not familiar with technical analysis.

In fact, historical data indicates that a weekly death cross is not always a precursor to a big dump. There are multiple cases where, after a weekly death cross, the price of Bitcoin not only did not fall significantly but instead rebounded from the bottom, followed by a notable increase. This shows that a single technical indicator cannot accurately predict complex market trends.

Another perspective suggests that the current Bitcoin has formed a death cross at a high level, implying that $120,000 could be the top for Bitcoin. However, this statement is also open to debate. Market development is dynamic, and new highs may continue to be created. If Bitcoin breaks through $120,000 in the future, how should the currently perceived "high" death cross be interpreted?

For ordinary investors, it is important to recognize the complexity of the encryption currency market. A single technical indicator should not be the sole basis for investment decisions. Instead, multiple factors should be considered comprehensively, including fundamental analysis, macroeconomic environment, industry development trends, and so on.

In addition, continuous learning and maintaining an open attitude are also important. The cryptocurrency market is volatile, and yesterday's experience may not apply to today's market. Rational analysis and cautious decision-making are the wise approaches to deal with market fluctuations.

Overall, technical analysis is indeed important, but one should not rely on it too much. Comprehensive market insights and a prudent attitude are equally indispensable when making investment decisions.