Will the "Cross Death" be a reality for Bitcoin and Cryptocurrencies

[ismart1]

The expert says this, says that; predictions of $30000 at the end of 2018 and now some "experts" say that Bitcoin is facing the destiny of regular market when it trends down with a mix of a rule that basically says:

“[Any] time the 50-day crosses the 200-day, it should flash a warning…and when you couple that with the fact that bitcoin has been trending steadily lower since the launch of futures, I think that it is a major negative.”

What are these so-called experts are missing? Do you think they have any saying on the crypto market?

[1714117324]

1714117324

[1714117324]

1714117324

[Lipe490]

Yeah funny how everytime bitcoin drops they have a non sense reason. People are fomo for every bad news and the media is having what they want. Bitcoin nowadays is reacting only to bad news sadly.

[coinycoiny]

Cross death is bollox.

I mean, what about the 49 day average crossing the 199 day average.

It's just an indication that the long term trend has changed. But didn't some of us say that back in January?

[maurofda]

There are analysts saying bitcoin goes down as there are others saying it will rise.
My opinion about media is that it's important to price formation since all the news pass through these channels. Until here we passed by
media news. It will not be different from now on.

"BTC bottomed out at $340 (April 11, 2014) immediately after death crosses were confirmed (see hand icons on chart) and had rallied to $680 by June 2014. Note, the RSI showed oversold conditions when the death cross happened, hinting at the rally to come.

Another more severe death cross occurred in early September 2014 and, by January 2015, bitcoin had dropped more than 65 percent to $170. Back then, the RSI was bear biased and holding well above the oversold territory.

Meanwhile, the death cross seen in mid-September 2015 was a big failure. BTC had already bottomed out at $162 in mid-August and continued to rise after confirmation of the cross signal.

So, the death cross failed to yield a big sell-off in two out of the last three events, and the odds are high that it would end up being a bear trap for the third time."


https://www.coindesk.com/why-bitcoins-death-cross-may-become-a-bear-trap/