A Death Cross for Bitcoin?
Updated
I see many people speaking about "The Death Cross" that's just appearing on the Bitcoin chart. The Cross brings some fear with it, and I can't just understand why, since it's not really a concerning one. But let me explain.
A Death Cross is only strong and meaningful as long as Both SMA (50 & 200) are pointing to the downside - both SMA need to be declining. Many Traders do also Check the Volume. If the Volume is Rising with the Cross, its more likely Valid, if the Volume is declining it less likely.
Personally, I don't really use the Volume to Confirm. I check the direction of Both SMA.
Edit: In my Opinion the Death as well as the Golden-Cross are really really bad Indicators since they're lagging really hard.
Don't get fooled!
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This Analysis is not intended to be investment advice. Always DYOR.
A Death Cross is only strong and meaningful as long as Both SMA (50 & 200) are pointing to the downside - both SMA need to be declining. Many Traders do also Check the Volume. If the Volume is Rising with the Cross, its more likely Valid, if the Volume is declining it less likely.
Personally, I don't really use the Volume to Confirm. I check the direction of Both SMA.
Edit: In my Opinion the Death as well as the Golden-Cross are really really bad Indicators since they're lagging really hard.
Don't get fooled!
If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
Note
June 30. 2021Not a Valid Death Cross
Note
Sep 04. 2014A Valid Death Cross
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UNDER C.
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UNDER C.
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