[2018-03-21] Bitcoin Returns Above $9K But 'Death Cross' Still a Risk

[feverpitch]

Bitcoin's (BTC) three-day winning streak is encouraging for the bulls, but only a quick move above $10,500 would negate the risks of the so-called "death cross."

Having bottomed out at $7,335 on Sunday, prices on CoinDesk's Bitcoin Price Index (BPI) rose to $9,127 today - the highest level since March 14. As of writing, the BPI is seen at $9,074. The retreat from the intraday highs could be associated with the signs of bearish relative strength index divergence seen on the hourly chart.

The 22.7 percent recovery from $7,335 suggests the bulls have regained control, at least for the time being. However, the cryptocurrency is not out of the woods yet, the long duration technical studies indicate.

https://www.coindesk.com/bitcoin-returns-above-9k-but-death-cross-still-a-risk/

[davis196]

Bitcoin's (BTC) three-day winning streak is encouraging for the bulls, but only a quick move above $10,500 would negate the risks of the so-called "death cross."

Having bottomed out at $7,335 on Sunday, prices on CoinDesk's Bitcoin Price Index (BPI) rose to $9,127 today - the highest level since March 14. As of writing, the BPI is seen at $9,074. The retreat from the intraday highs could be associated with the signs of bearish relative strength index divergence seen on the hourly chart.

The 22.7 percent recovery from $7,335 suggests the bulls have regained control, at least for the time being. However, the cryptocurrency is not out of the woods yet, the long duration technical studies indicate.

https://www.coindesk.com/bitcoin-returns-above-9k-but-death-cross-still-a-risk/

Acording to the "death cross" chart,the bitcoin price should crash to around 2800 USD soon.
The so called "experts" just compare the cryptocurrency markets with the stock markets and think they are all the same.Crypto is completely different and the death cross theory will fail.Anyway,the price will recover back to 11K at the first week of April,but i`m not sure when the FUDsters and crypto haters will stirke again.
 

[thefaucetrunner]

How is the ma50 crossing the ma200 a "death cross?" That happens everyday in all markets and doesn't mean anything except that the price is trending up. Technical analysis is perfectly applicable to cryptocurrency markets. It just analyzes the patterns that price is making. When buying and selling forces get exhausted in a market, it means the same thing whether it's pork bellies or digital coin.

This definitely looks like some FUD to me, as I don't use moving averages to detect an oversold/overbought market. That's what RSI, BB's and Keltner channels are for.