Bitcoin: Bottom in/close? What do the Death/Golden Cross tell us

This is a basic but informative illustration of the Death/ Golden Cross occurrence on BTCUSD.

During the last bear cycle (2014/ 2015) the Death Cross occurred just before the cycle'c bottom was made in January 2015. The bottom was made 3 weeks after the Death Cross took place. What followed in the coming months was a year long consolidation period that stopped with the emergence of the Golden Cross, which basically signaled the start of the 2 year hyperbolic bull market on Bitcoin.

Focusing on the current chart we see that the same MA 200/50 pattern is followed with the appearance of the Death Cross in early November, just before the latest bearish leg that took BTC close to 3,100. Although 3 weeks have passed since the Death Cross, we didn't get the full -63.67% decline of the previous 2014/ 2015 cycle, so the bottom has high probabilities of being already priced in. This shouldn't matter to long term investors as the pattern that follows is fairly clear: 1 year consolidation until the next Golden Cross occurrence that will signal the next bull market.

See our previous studies on the probability of this consolidation period that lies ahead:

Bitcoin: Is it possible that we are just consolidating?



Bitcoin prints 5 consecutive red months. Where do we stand?




** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.
Bitcoin (Cryptocurrency)bitcoinbearmarketbitcoinusdBTCbtcbearmarketBTCUSDChart PatternscryptocryptocurrenciescryptosTechnical IndicatorsTrend Analysis

Telegram: t.me/investingscope
investingscope.com

Over 65% accuracy on Private Signals Channel.

Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.

Free Channel: t.me/investingscopeofficial
Also on:

Related publications

Disclaimer