MA Death Cross. New Crypto Winter
The blue "+" signs show the MA crosses that have happened on the weekly chart.
When the red MA crosses below the green, that is a Death Cross. Symbolizes a Bear Run.
When the red MA crosses above the green, that is a Golden Cross. Symbolizes a Bull Run.
From the Death Cross that took place in early June 2021, it is very likely that the new market top has been decided at about $64,500. Based on the 200 MA (dark blue), it looks like the new market bottom should be decided between $13,000-$16,000. I think the new market bottom could settle in April/May 2022 simply because the previous bear run of 2018-2019 lasted a little over 1 year.
Please also note that this chart is logarithmic on the weekly timeframe. The Vertical green line to the right is the approximate date of the next Bitcoin Halving, which is slated for May 13th, 2021.
When the red MA crosses below the green, that is a Death Cross. Symbolizes a Bear Run.
When the red MA crosses above the green, that is a Golden Cross. Symbolizes a Bull Run.
From the Death Cross that took place in early June 2021, it is very likely that the new market top has been decided at about $64,500. Based on the 200 MA (dark blue), it looks like the new market bottom should be decided between $13,000-$16,000. I think the new market bottom could settle in April/May 2022 simply because the previous bear run of 2018-2019 lasted a little over 1 year.
Please also note that this chart is logarithmic on the weekly timeframe. The Vertical green line to the right is the approximate date of the next Bitcoin Halving, which is slated for May 13th, 2021.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.