BTCUSDT - Potential Death Cross on Daily Chart for BTC Perpetual
Hey Guys,
On BTC USDT Perpetual Contracts daily chart, there's a potential of a death cross.
A death cross occurs when 50 days MA crosses below 200 days MA, the opposite of the golden cross.
The prices of the 50MA and 200MA are ever close to each other after the golden cross happened in around May 2020, as seen in the chart.
Both of these indicators needs large volumes to be able to perform what they're intended for.
As far as I can see, volumes we had in the recent days matches the volumes we had before golden cross happened.
So now, we should follow this pattern very closely as this is one of the biggest and most reliable indicators along with it's brother golden cross.
If we see the 50MA crossing over 200MA, we may as well take short positions and this will not be a short term thing to do.
When, if, this crossing happens, keep an eye on the ADX (Average Directional Index) that if it's rising or falling to foresee the strength of the trend, which is already in DI- zone. (Short Zone)
Check out the linked idea about 23K possibility attached to this one.
PS: As always, this is not a financial advise; please DYOR!
Happy trading.
On BTC USDT Perpetual Contracts daily chart, there's a potential of a death cross.
A death cross occurs when 50 days MA crosses below 200 days MA, the opposite of the golden cross.
The prices of the 50MA and 200MA are ever close to each other after the golden cross happened in around May 2020, as seen in the chart.
Both of these indicators needs large volumes to be able to perform what they're intended for.
As far as I can see, volumes we had in the recent days matches the volumes we had before golden cross happened.
So now, we should follow this pattern very closely as this is one of the biggest and most reliable indicators along with it's brother golden cross.
If we see the 50MA crossing over 200MA, we may as well take short positions and this will not be a short term thing to do.
When, if, this crossing happens, keep an eye on the ADX (Average Directional Index) that if it's rising or falling to foresee the strength of the trend, which is already in DI- zone. (Short Zone)
Check out the linked idea about 23K possibility attached to this one.
PS: As always, this is not a financial advise; please DYOR!
Happy trading.
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