Moving averages relate to momentum in the price, its nothing more then data till conclusions are pressed as to how this will effect current price. Its not especially far fetched for a rising average price to be considered bullish, the 50 day above 200 just implies a positive phase where as earlier this year we entered a sell off period quite normal after such rises.
Speculative trades do tend to guess MA as support or guidance in some way which is probably where it becomes too stretched in its reliance however its never just invented its a reflection of price history so valid to refer to imo. Right now we just above 2 day average, a very fast measure to trade along and also the monthly average price is in this area, sideways consolidation is occurring most likely.
Topic: Bitcoin Golden Cross approaching - page 2. (Read 356 times)
It's going to depend on which indicators you use. The image is too small to look at. But I can see it yellow and almost about to cross a blue line as well. It's yellow, I would assume that's why it's called Golden cross. Bitcoin is too hard to predict for a day trader but perfectly easy for the long-term holders. The holders are the ones that profit the most and they were not even thinking so hard of what else to do whether they buy or sell as the price plunges.
This type of "draw a line over the chart and start making predictions" analysis looks like shamanism to me.
This is the same as watching a crystal ball,acting like Nostradamus and making weird conclusions about the future of the world.
The BTC price might hit a "golden cross" or "golden X" or whatever.And so what?Even if the price hits a new ATH,it will go down after that for sure.The people who think that the Bitcoin price will come to a phase,where it will only up and up to the moon are simply naive.The price will keep moving thru pump and dump cycles,corrections and ATHs,bull runs and bear markets.We might not like it,but this is how Bitcoin is designed to be.
This is the same as watching a crystal ball,acting like Nostradamus and making weird conclusions about the future of the world.
The BTC price might hit a "golden cross" or "golden X" or whatever.And so what?Even if the price hits a new ATH,it will go down after that for sure.The people who think that the Bitcoin price will come to a phase,where it will only up and up to the moon are simply naive.The price will keep moving thru pump and dump cycles,corrections and ATHs,bull runs and bear markets.We might not like it,but this is how Bitcoin is designed to be.
I think This is the Best Golden Cross approaching. What do you Think?
The lower price right now someone convinces people that golden cross is not approaching. However remember that the last time we saw 40k+ price was when the price dropped from 32k to 28k, it had the lowest amount we have seen in the past 5 months and then suddenly it skyrocketed back over 45k. So, just because something is falling doesn't mean that it will keep falling.Sometimes in life some things (not always money or prices) do not always fall, it falls and falls and falls but one day it stops and at that point it is the golden cross, it is the moment when things start to look good, and it starts to skyrocket and everything goes perfectly for a long time. I believe that the same thing could be happening here, it "looks" bad but I feel like it is actually not that bad.
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Dude, you’ve been here since 2013. You know full well how quickly bitcoin can rise in the peak of a bull market, which is usually Q4 in a bull year. $70,000 is absolutely possible before New Year.
Even during this rally the price started to peak in a short period of time and it can happen in either directions and hence it is not a big surprise. Like you and everyone else in the same wavelength about the general market situation i am also expecting the market to rally to all time high valuation despite the fact i am still scratching my head to warp my brain around golden cross approach and dead cross approach Dude, you’ve been here since 2013. You know full well how quickly bitcoin can rise in the peak of a bull market, which is usually Q4 in a bull year. $70,000 is absolutely possible before New Year.
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We have many predictions for what will happen to bitcoin, but do we ready for that by having many bitcoins and altcoin for the coming? If we just make a prediction without trying to buy bitcoin or altcoin, we will not join that party instead only see other people make a big profit. And no matter if bitcoin will make a new ATH this year or next year, we should prepare ourselves and be patient because that time will come soon. Hopefully, we will make a big profit again this year.
It's going to depend on which indicators you use. The image is too small to look at. But I can see it yellow and almost about to cross a blue line as well. It's yellow, I would assume that's why it's called Golden cross. Bitcoin is too hard to predict for a day trader but perfectly easy for the long-term holders. The holders are the ones that profit the most and they were not even thinking so hard of what else to do whether they buy or sell as the price plunges.
Hasn't already broken this so-called Golden cross? I can't see the price zone due to an unclear image, I think the current price is below from given golden cross-zone and continuously dumping. Bitcoin really does not follow any such chart, it's just walking its own way. Because Bitcoin makes the record, doesn't necessary to follow any chart or past trend. Chart, trend everything depends on the investor's movements. I don't know the exact reason for the current dump, but most probably investors taking a little break. And of course, an uptrend would start any time based on investor's movements.
Been a while since I checked on these indicators but from what I remember they work half the time and the other time they are nothing but traps. They are not perfect indicators because they are lagging indicators so you are pretty much entering every trade very late.
So when Bitcoin has a very strong bull trend or bear trend is beginning then they are reliable however if it’s trading sideways which it might until Oct then you will get chopped to bits taking the trade back and forth. I wouldn’t rely on this indicator alone.
So when Bitcoin has a very strong bull trend or bear trend is beginning then they are reliable however if it’s trading sideways which it might until Oct then you will get chopped to bits taking the trade back and forth. I wouldn’t rely on this indicator alone.
This is going to be so breath taking every now and then, facing the Golden cross is somehow a remarkable death cross for every holders. It's their good fate as btc price struggles to survive on this current downtrend, but our motivations never shakin.
Predictions and target has be undeniably coming to reality, but we should also consider those factors that affects it's growth. Golden future awaits to those who wait, that's why patience is our only way to deal with it.
Predictions and target has be undeniably coming to reality, but we should also consider those factors that affects it's growth. Golden future awaits to those who wait, that's why patience is our only way to deal with it.
I believe that 50k+ will happen again, but I do not think that 70k+ or 30k is in the books right now. Those two huge sides are looking way too much of a move right now, something like 50k is close and a lot more possible if you ask me.
Dude, you’ve been here since 2013. You know full well how quickly bitcoin can rise in the peak of a bull market, which is usually Q4 in a bull year. $70,000 is absolutely possible before New Year.
I think This is the Best Golden Cross approaching. What do you Think?
Let's see what we will do in the next few days, because the early days after a crash is the most important part of it. It may look like a golden cross now, but when the crash continues then suddenly you realize that it is not a golden cross but a horrible bear run starting. This is why I honestly believe that we should not be doing anything that is risky just by looking at charts. Obviously this doesn't mean that we will go down, obviously there is a good chance that it could be golden cross, but that is just not the only explanation for it.I believe that 50k+ will happen again, but I do not think that 70k+ or 30k is in the books right now. Those two huge sides are looking way too much of a move right now, something like 50k is close and a lot more possible if you ask me.
I think This is the Best Golden Cross approaching. What do you Think?
https://i.imgur.com/KCSSptp.jpg
I don't really see this having any kind of relevance in the market of cryptocurrencies, I know that this is a very telling sign in the stock market but taking into account the volatility that we witness every single day such event cannot really be used to predict anything because by the time something like that happens the price has moved significantly in one direction or the other, so while it is interesting to think about the repercussions this could have I think the exercise is completely irrelevant.https://i.imgur.com/KCSSptp.jpg
I think This is the Best Golden Cross approaching. What do you Think?
I don't really see this having any kind of relevance in the market of cryptocurrencies, I know that this is a very telling sign in the stock market but taking into account the volatility that we witness every single day such event cannot really be used to predict anything because by the time something like that happens the price has moved significantly in one direction or the other, so while it is interesting to think about the repercussions this could have I think the exercise is completely irrelevant.
golden gross is not always valid, it will likely go the other way. I see bitcoin is on the defensive and for bullish need a little push so that bitcoin will bounce back after being hit by the ladder yesterday. many people assume that the golden gross this time is not necessarily bullish but will come back down and return to a holding position to meet the next golden gross.
Golden crosses and death crosses. Think they were hot a few years ago but when nothing ever materialised when they kept getting called in 2019, people forgot.
No harm in pointing them out every time they resurface but I ain't holding my breath this one time.
No harm in pointing them out every time they resurface but I ain't holding my breath this one time.
I have seen moving average on 4hours and above pushing the candlestick further down wards and this may be indication of a little more bear to $42,000 and below. That may be a crossing there approaching the bear. Bitcoin has been a the correction the last 3days and today is not an exception but anything may happen to change the bear ranging.
It didn't go to $43k, but the price bounce back again to $45k. $43k seems to be a good support levels at this point and it's good that at the 4 hour time frame, we have recovered already. Not saying that we are out of the bears hands, but getting above $43k is a good sign that the bulls are not wiling to give up their position as we approach the latest golden cross.
I believe that since it is a Golden Cross, that doesn't mean it looks bullish in the crypto world. Don't get me wrong it could be in stock market or forex market but in crypto market we could have Elon come up and tweet something like "bitcoin sucks" and suddenly we have another huge fall.
Crypto is not much different than stocks. Why do you think elon has such a driving force in crypto? Because he has proved many times that his twitts have the driving force and are moving with ease the course of one of the largest companies in the world up and down like crazy.
"Tesla shares fall on Elon Musk 'stock price too high' tweet" - https://techcrunch.com/2020/05/01/tesla-shares-fall-on-elon-musk-stock-price-too-high-tweet/
"Less than 24 hours earlier, the billionaire appeared to prompt shares in CD Projekt, which makes the Cyberpunk 2077 computer game, to surge more than 12% after he said via Twitter that a new model of Tesla’s Model S Plaid car would allow passengers to play the game." https://www.cnbc.com/2021/01/29/elon-musks-tweets-are-moving-markets.html
He was even attacked by SEC in 2018:
"Elon Musk Charged With Securities Fraud for Misleading Tweets" - https://www.sec.gov/news/press-release/2018-219ikNr2bSzV87dTqvEHTNbzIEYTl3SzN6XEgsyt0FXzkRFFiyONinVU
Trump twitter was one of the main indicators for SP500 traders in last 4 years. Each time he was posting something price was moving aggresively.
"S&P 500 Performs Best On Days Donald Trump Tweets 30 Or More Times: Study"
https://finance.yahoo.com/news/p-500-performs-best-days-191644863.html
Some stocks are even more manipulated than crypto because they are far less transparent.
So price reaction on influacers is everywhere. But its always short term price action. Long term price action based on fundamentials dont change.
I believe that since it is a Golden Cross, that doesn't mean it looks bullish in the crypto world. Don't get me wrong it could be in stock market or forex market but in crypto market we could have Elon come up and tweet something like "bitcoin sucks" and suddenly we have another huge fall. Or we could have whales dropping the price again, basically any reason could make bitcoin fall like crazy. This is why I do not believe that we are in a situation where bitcoin will have a long term bull run just because we are in a golden cross. However it is another good thing to pile on the all good things we are seeing.
It may not go up just because of it, but it certainly does look like it may have a good reason to go up overall. Let's hope that we end up with a good run after this horrible drop, we definitely deserve it, I am still in profit, I just want it to go up for the benefit of the communities mental health because everyone is going bonkers.
It may not go up just because of it, but it certainly does look like it may have a good reason to go up overall. Let's hope that we end up with a good run after this horrible drop, we definitely deserve it, I am still in profit, I just want it to go up for the benefit of the communities mental health because everyone is going bonkers.
I have seen moving average on 4hours and above pushing the candlestick further down wards and this may be indication of a little more bear to $42,000 and below. That may be a crossing there approaching the bear. Bitcoin has been a the correction the last 3days and today is not an exception but anything may happen to change the bear ranging.
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