Topic: Bitcoin Death Cross Approachs (Read 174 times)

I think it was a long winter like in GoT, there might be hope of a bullish market in summer.
People will be in a better condition regarding their mood which will help the market to recover and gain on some traction.

I think though in practice 99% of people who would have sold has done so by now. The only people still applying sell pressure are traders I think. We should start going up soon. And if we don't, heck that is fine by me. More time to collect fiat to buy more BTC. We all know itl go up further eventually and get a new all time high.

Couldn't have explained it better. TA is known to work until it doesn't. I'm often reading predictions on tradingview and most of these people are not right. Sure, they can read an obvious pattern and draw a line up or down from it, but when the price acts like it did yesterday - flat line with low volume, you can either expect a pump or a dump. The first big holder that overreacts show the rest what to do and they follow. Yesterday we had a huge pump, but it as well could have ended with retesting of the 6000 USD level.
Those obvious patterns that make people think TA works are the only thing that keeps them believing that it will always work, but if it did, every analyst would follow the same pattern and trading would be easy and predictable.

It is true that this is an excellent opportunity to buy bitcoin, at a cheap price then we will get much more profit opportunities.

It’s always best to buy coins when price is low. We can’t know exactly how long it will take for the market to recover fully. But if price doesn’t go further down for next 10 odd days, I think we can say we are near to recovery. For now, we can just wait a bit longer.

Bitcoin's decline is driven by talk of what is called "death cross," which is a term used to describe a cross between the 50-day and 200-day long-term moving averages. Technical analysts often see this pattern as an early signal that will happen in the future.

no its not, it just a healthy correction.. after this im sure market will reach another all time high

I thought that the death cross was met around during the Holy Week (coincidence?) and was again defeated by bitcoin when it bounce back and recovered around $7300-$7400. So I wouldn't be surprise if we can go and pass this so called death cross. I think is more of a mental thing for most traders now, and fearful for those newbie traders and they might dump anytime though. I'm pretty confident that we can all go this hump again and rebound again.

TA only works in crypto because people believe it work. If you believe in a death cross then you will obviously sell off if it gets close to it. The same goes for everyone else who believes in TA. I have been daytrading the last few days, quite successfully. This is not because I am a zen master meditating in the mountains  to learn what an inverted head and shoulders pattern followed by a cup and handle with funny triangles mean.

This is simply because I am riding on what all the TA people thinks and setting stop limits.
You cannot TA something as volatile as bitcoin. How will your TA accomodate for JP Morgan saying they are integrating a bitcoin exchange into all customer bank accounts tomorrow? Or UK banning anything crypto?  
What about a youtuber with 200k followers mentioning a coin? Will TA predict that pump?

You dont need funny lines and triangles for this, it is simple - dont be greedy and only buy on lows. A death cross doesnt mean anything in reality, but due to everyone  who believes in it we will probably see this imaginary line being crossed.  But alas. I will  even buy bitcoin tomorrow if I had spare fiat, its not on a all time high so why not buy now?

the average for the last 200 days is not $4.5k
what your thinking of is the price 200 days ago. not the average of 200 days

though many people have all these trending names like death cross.. what people need to realise is that by having all these trends.. its not predicting the future. its actually causing many people to react at a certain point in the future due to the past.
like a self fulfilling prophecy.
in short its the trends that causes further trends because everyone sees the same data and ends up reacting at the same time.
EG if you watch traffic light trends that go red every 50 seconds.. you start to learn a pattern and count in your head that if your near a junction at 48 seconds you should put your foot on the brake.
everyone starts learning to put their foot on the brake
even if the light doesnt go red, everyone is putting their foot on the brake slowing down the traffic.

none of the sheep in traffic (unless smart) decide screw it lets accellorate because the light is actually green. too many people are trusting the past trend of red, instead of actually looking at the reality of green
so dont being a sheep by just relying on trends

any way, watch out. because people do throw a curve ball and mess up your strategy by going against trends, because some are not sheep. if all you are going to do is base your trades on the past, then you are playing into the sheep game of following past trends. youor locking yourself into a circular cycle

dont be a sheep. everyone sees the same trends so following them is nothing special. get out of the circular cycle and get ahead of the game

Bitcoin's price movement can't be and should not be speculated through teachnical analysis that is generally used in the stock market. Stock market is a regulated market and a lot of factors are directly controlled by the share issuing company and the regulator unlike crypto market. So what can be scaring the real world stock traders, may not stand true for crypto analysis.

However, I can't deny that the crypto market is constantly showing a prominent downward trend without any hint of recovery. So you speculation of the downtrend beyond death cross will probably become true!

TA means little in crypto

I don’t even bother or interested what death cross really for and what it means on a trader perspective.. Because having heard it multiple times in many discussion and mostly negative I do ignore them and never intended of knowing it technically..

If this is true and will gonna happen then that’s no big deal for me,, I just gonna hold for few months or year than selling at its lowest price..

Too many fancy words for me. I will just hold.
Just repeating the same cycle over and over.

There were cases when assets went through that death cross and exploded upwards. Deciding whether to buy or not purely on the MA is like shooting in the dark.
Bitcoin will recover anyway and it's not thanks to the traders or analysts but because people who decide to buy because they believe in the technology will not analyse the charts. They will just buy because it will look attractive to them.

The price falls brings the opportunity for the investors so that they can buy bitcoin in cheaper rate and sell it when price increases.

Well that matter with the death cross point had give such goose bumps to many investors, But for speculators I think this is pretty normal, I reaaly think we don't need worry about the now because the future is still bright that the value of bitcoin will still recover in the mean time lets just savor the opportunity to buy more bitcoin.

I think the decline in bitcoin is a good buy opportunity.I think the price will be even lower.Then you will have a chance to make a good purchase.But then there will be a nice increase.

The death cross for the BTC is around the 4.5K USD rates. For now we are still far from reaching that point in terms of the prices. If it did not reach that point in next week or so then we can say we are out of the danger of falling into that death cross point. If does anyway then it could take lots of months to recover back. I have read this on the forum only and that is how I learnt about the whole situation.

After reading the matter elsewhere I do understand that this method of analysis the fate of trade is actually coming from the stocks and may be it is not that relevant to the crypto currencies. But its still the same thing however with major factors affecting it all the time due to decentralisation.

50 day average on BTC is approaching the 200 day moving average

This is known as a Death Cross spooks the heck out of traders, I'm thinking that it maybe it will be pivotal point for BTC and as DO is correlating with BTC currently it could be a spike down, opportunity to buy more at bargain basement prices