Death Cross

[Vyacheslav7755]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

[1715368335]

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[1715368335]

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[jseverson]

For people who don't know what OP is talking about, refer to this article:

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

I'm personally not concerned. Past performance is not indicative of future results, as they say, and this is even more applicable to Bitcoin compared to other traditional assets, where technical analyses are usually applied.

The strategist studied the virtual currency’s 2013 tumble for clues on how it may act this time round. His conclusion? Gear up for a 76 percent tumble from late February highs, which would take Bitcoin to a paltry $2,800, if the downtrend is repeated. Bitcoin fell 2.2 percent to $8,120 at 11:17 a.m. in London, according to Bitstamp prices.

Honestly, good luck with that prediction lol. Bitcoin has bounced back since, too.

[haroldtee]

I see no reason to panic until it happens (the 50 and 200 MA crossing on the daily chart), which I do not see the likelihood, at least for now . The market has bounced from the $7300 - $7400 range even after some of us speculated a double bottom, we are currently having a bull flag formation and fundamentally, there is optimism in the market as things aren't looking bad, so, let's have something to hope for.

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

Apparently, that would show huge weakness and I do not want to imagine the massive dump that could happen, but like I said, I do not see this happening and even if it does, it will just be a good time to target a good price to buy more.

[Vyacheslav7755]

I see no reason to panic until it happens (the 50 and 200 MA crosses), which I do not see the likelihood, at least for now . The market has bounced from the $7300 - $7400 range even after some of us speculated for a double bottom, we are currently having a bull flag formation and fundamentally, there is optimism in the market as things aren't looking bad, so, let's have something to hope for.

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

Apparently, that would show huge weakness and I do not want to imagine the massive dump that could happen, but like I said, I do not see this happening and even if it does, it would just be a good time to target a good price to buy more.

I still sitting in fiat and have downstare to buy at 7500-6000 levels, now we have flat and if we don't grow in few days, death cross can happen. Does anybody remember how it was with bitcoin when death cross happened last time? Maybe in year 2014 it was last time?

[talkbitcoin]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

this is not a Sci Fi movie so that won't happen.
for all we know, we might continue seeing a slow creep up towards $10k within next month and testing it multiple times before breaking it and price may never go below $8500 ever again during this slow rise and resistance test!

my guess is that it will remain in this price level for a while then breaks $10k and heads to wards $11k in 2 days time without any stop.

[Za1n]

I can see this happening as I think people are too quick to dismiss the market activity in 2013/2014 as not happening again. If you compare the charts the pattern almost looks like a exact repeat of 2014 where the market crashed, briefly recovered to about 50% of the previous high which held for maybe two months and then it crashed down again even further. That time it took the remainder of 2014 and all of 2015 before the market started to slowly rise again in 2016, and taking nearly to 2017 to return to the 2013 highs.
 
Point of all this is it has only been two months since the ATH's and it takes much longer than a few weeks to fully correct and recover. Hopefully the process does not draw out as long as it did last time, and maybe not go as deep, but getting back to the OPs point, I can fully see BTC dipping to 3k yet, albeit briefly, before taking off. I can also see this drawing out all through the summer and fall and maybe not starting a earnest recovery until sometime in 2019.

[haroldtee]

~snip~

I still sitting in fiat and have downstare to buy at 7500-6000 levels, now we have flat and if we don't grow in few days, death cross can happen. Does anybody remember how it was with bitcoin when death cross happened last time? Maybe in year 2014 it was last time?

Was it 2014 or 2015? However, a lot has changed since then. Absolutely, no one can predict anything as things can change within a split of a second, so we might as well just wait to see how events unfold, but always better to stay optimistic and blend with the flow. If we do not, news like this will send people into panic even if the MAs are just brushing each other and not crossing. Just my thoughts!

Also, I wonder what you were waiting for to buy when we touched the local support and bounced from $7400 with the bullish divergence that was displayed on the MACD on 4hr period. I hope you do not turn out to be those who wait for a particular level and end up not getting it. No one can see the future though and I understand you may be playing safe which is good, but personally, I always prefer sticking to what the chart gives me at any point in time, rather than assuming what the future holds. So, I guess we will just have to keep our arms crossed till then.

[Vyacheslav7755]

~snip~

I still sitting in fiat and have downstare to buy at 7500-6000 levels, now we have flat and if we don't grow in few days, death cross can happen. Does anybody remember how it was with bitcoin when death cross happened last time? Maybe in year 2014 it was last time?

Was it 2014 or 2015? However, a lot has changed since then. Absolutely, no one can predict anything as things can change within a split of a second, so we might as well just wait to see how events unfold, but always better to stay optimistic and blend with the flow. If we do not, news like this will send people into panic even if the MAs are just brushing each other and not crossing. Just my thoughts!

Also, I wonder what you were waiting for to buy when we touched the local support and bounced from $7400 with the bullish divergence that was displayed on the MACD on 4hr period. I hope you do not turn out to be those who wait for a particular level and end up not getting it. No one can see the future though and I understand you may be playing safe which is good, but personally, I always prefer sticking to what the chart gives me at any point in time, rather than assuming what the future holds. So, I guess we will just have to keep our arms crossed till then.

I entered and quit to the market many times and always I enter if following conditions are met:
1. I enter on bear market on the lowest price I can predict. For this moment it is 6000 like we had in Feb'6 (double bottom is very possible).
2. I enter once I have confirmation that trend is changed to bullish.

Both conditions still are false.
For second one, confirmation would be breaking 10500 level, but partiallly I'm ready to enter once we break 9300 resistance. Now we can see flat and we can go both way depending on following news background.
And yes, we can fall like in 2014 whole year, no reason to exclude this scenario as well.

[BTCLovingDude]

i have to give it to FUDsters out there. say anything you want about them but the good ones are so creative. "Death Cross", "Crypto Winter", and all the ways they make a new FUD has always been pretty creative. that is why it has been always effective and caused panic sells.

although in this case i have to say OP is late to post this old FUD. it already happened and panic sell is long over and he is about a week late to the party

[Vyacheslav7755]

I can see this happening as I think people are too quick to dismiss the market activity in 2013/2014 as not happening again. If you compare the charts the pattern almost looks like a exact repeat of 2014 where the market crashed, briefly recovered to about 50% of the previous high which held for maybe two months and then it crashed down again even further. That time it took the remainder of 2014 and all of 2015 before the market started to slowly rise again in 2016, and taking nearly to 2017 to return to the 2013 highs.
 
Point of all this is it has only been two months since the ATH's and it takes much longer than a few weeks to fully correct and recover. Hopefully the process does not draw out as long as it did last time, and maybe not go as deep, but getting back to the OPs point, I can fully see BTC dipping to 3k yet, albeit briefly, before taking off. I can also see this drawing out all through the summer and fall and maybe not starting a earnest recovery until sometime in 2019.

totally agree, we have have it again

[Marileno]

I also do not put too much weight on chartists ability to predict movements in price. Technical analysis really only has weight on very short term price movements. I would ignore this as i have a long term view on BTC.

[Vit83]

All exchanges as I see follow one top volume BTCUSD pair exchange Bitfinex. And this gives great space for manipulation with the small sum of money. That's why I don't believe any price indicators in crypto looking just on volumes. Maybe other indicators working because I also put short stop-loss for BTC now;)

[Vyacheslav7755]

All exchanges as I see follow one top volume BTCUSD pair exchange Bitfinex. And this gives great space for manipulation with the small sum of money. That's why I don't believe any price indicators in crypto looking just on volumes. Maybe other indicators working because I also put short stop-loss for BTC now;)

I agree that we can see strong volatileness after this long flat and direction isn't clear at the moment. So everyone should have stop loss or do not open postions yet IMHO.
And death cross isn't happened yet. It was FUD week ago but now it can be reality in few days.

[Reatim]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

This has been forecasted last week when bitcoin was going down to the $7500 levels and everyone in the prediction thread that $2800 is looming. But after 3 hours suddenly the price jumps to $8400 and just like that the FUD died down.

And now we see another thread like this, last week proves that any sort of prediction will happen, or won't. So I guess we need to see how everything goes. But personally, I don't think that we will cross $3K-$6K, we may shoot to $9500-$10K at the end of the month.

[cryptohunter]

TA has no power here

[rosepetals]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

Bitcoin had slowly recovering that it already reach to $9K thats a positive movement of btc price as of this moment,i think theres no reason to panic,no one could ever predict bitcoins growth.To fall or to rise is a natural movement and i believe until it did not reach to 0 bitcoin is still worth enough to be trusted for long term investments.Death Cross for me is too far from reality.Lets just believe in its capability that it would grow more and more and continue to gives us a chance to make our dreams fullfilled.

[Nerman]

I am not sure of death cross applies in crypto but from the recent price movement investors seems do not care about it. There were some talks about this in the money news but analyst are also aware that technical analysis usually do not apply in crypto market. Lets just hope that this is true because i know in stocks it means massice price drop.

[heisenberg0000]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

Not sure how you did this death cross technical analysis but dropping to 3kUSD is quite drastic. From the moment you have posted this I think the strong support is at 7800 level. And we also have a strong support at 5900 to 6k USD that has been tapped within this month. I dont see any FUD that could cause BTC to go and drop down at 3k level.

[Vyacheslav7755]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

Not sure how you did this death cross technical analysis but dropping to 3kUSD is quite drastic. From the moment you have posted this I think the strong support is at 7800 level. And we also have a strong support at 5900 to 6k USD that has been tapped within this month. I dont see any FUD that could cause BTC to go and drop down at 3k level.

I hope that 5900 level will stay alive after death cross.

[whoisyourking]

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

Forecast is good to see what things out in the future but bitcoin change from the past years some investors exit and some enter so why should we worry we are on the right track all we need to do is hold and wait. But if you are right that bitcoin will fall to 3k that is good time to bought bitcoin.