Topic: Death Cross on the Bitcoin Chart (Read 371 times)

Reality is no one actually knows what's the future will be for bitcoin. People like Peter Brandt just love to speculate things probably he just wanted to create hype or whatsoever, but as long as we never easily believe on his predictions but will make our own market analysis, then we are safe. It's just that some could be giving a lot of emphasis to these bitcoin speculators that made them totally feel that they can be reliable enough, when we all know no one can be reliable when it comes to bitcoin's uncertainty.

Today has been a negative but mark it on the calender as a green tick anyway as so long as we stay above 58k a smile should be our faces.  BTC remains with good ambitions and able to rise from here.

Theres a fight and I think more is to come but every day above ground is a good day.  58k and further more the last low of 56k is terrority we should not contravene if such positive aspirations are to remain realistic.    I still believe we fight sellers across multiple time frames and suceed eventually but the question of the losses we might suffer near term remains wide open.

Death cross is daily bars but weekly bars across this month are neutral near enough; we should stay happy about that is my guess.

On the 19th, when this was done (maybe even a day before it got to us) it was under 60k we know that much, it was around 58k or so, and peaked at 65k at the highest point, which means that we are talking about more than 10% profit in a week or so. That should have been a good call, and Peter or whoever that dude is, made the right call.

Of course, it wasn't really that much of a hard call, we were recovering from a fall, and it already started to recover, so it wasn't really that hard and did not require death cross to form before we can make this deduction, just needs to know what bitcoin does and the helps of that.

I think it's clear that there are a lot of people who knows what they are doing, and this just doesn't really feel like it's a new thing, it's as commonly done as possible and not really that hard to handle at all. We should be considering how we can make it work any possible way, and this seems like something that we can profit from without much trouble to begin with, we just need to invest. In fact, here is another prediction, invest now and it will be 100k+ in the next 8 months to 10 months, nothing that shocking.

Don't blame them ..it's not easy to look at the charts and come up with something legible, so sometimes one has to improvise and come out with gibberish. And who knows how to give this better than Peter Brandt?

Today we fell further, threatening to collapse the recent mid Aug gains if we cannot arrest the fall. We meet the 50DMA which is nothing but clouds not support, further weakness if we dont recover 63k by close today.

  The main take away from this indicated pattern cross over is indecision and caution required at present.  Right today we are at the 50 day average, if we can improve from here eventually well beat all doubts and resistance.

What I really expect is further rough seas, alot of choppy movement in the price action.  Uncertainty to continue I think, it would be a positive to stay above the 50 day average from here till end of year but doubt we get things this easy.

I stopped following this moving average indicator. There was a one time or two when it actually worked but the rest of the time it wasnt accurate at all. We hear this all the time, or the inverse which is called the Golden cross I think.

These are lagging indicators, so they wont help you because they are basically telling you to enter way too late and if you are incorrect you will need a huge stop if the trade doesnt end up working. Whenever these crosses come up, there are tons of news articles and people get excited, however it works half the time and the other half it doesn't.

I would use more confirmation before taking a trade based on this indicator. Just like Fibonoaci or Elliot waves, they dont work well for crypto trading.

exactly, everyone is so confused with the state of the market rendering so many speculation as just an empty speculation that holds no value.



the occasional dumps to $50k does indeed put a lot of pressure toward people and it created fear on its own hindering BTC from having smooth sailing to above $70k price point.
but this recent pump might enable bitcoin to reach $70k again.

It's so good to see Bitcoin touching the 64,000$ mark once again in such a sudden bullish trend. What we are seeing is the exact opposite of this prediction stating Bitcoin would possibly retreat to 46,000$. The tendency being drawn right now is the one expect for September by many investors, who claimed the decreasement in interest rates by FED would result in a new flux of money coming into BTC investment and crypto market as a whole.

Also, many enthusiasts believed Bitcoin would get bullish in the final months of 2024, and as we are reaching Q4 it's really likely things are going to improve even more. At least, that is what I'm confident about. Bitcoin still has potential to hit a new ATH by the end of this year and I hope it will!

The market has been in a wildly volatile state lately, making it difficult for anyone to take any decision. Many are also discussing that Bitcoin will achieve a new ATH, but no one can predict with certainty what the next movement will be. However, I am very positive in the market right now and I think Bitcoin will hit the $70k target, but I will definitely wait to see where the market moves from there. So now I am keeping an eye on the market movement, because watching the unstable market also gives a different kind of thrill.

You may encounter inconsistent comments from long-time influencers in this market. Peter has earned his attention and might be facing challenges with predictions in this volatile environment. However, if Bitcoin fails to reach a new all-time high, far from its previous $70k peak, it could raise concerns about Bitcoin’s future. That said, I don't believe this will happen in the current cycle. The market remains wildly unpredictable, and many, including Peter Brandt, are finding it tough to navigate. But don't worry too much.

Reverse is the case right now, because bitcoin is some where around $62k+ which is somewhat a bullish display and for that it a sure wrong predictions  already, and to some extent the whole idea is just flaburyant statement since mentioning death crose a d the rest of those fuss words that suggest more sell rather than buying.

No one can actually predict what direction bitcoin will go, not even the so called chart experts that predict the bitcoin market from time to time.

Ironic as ever the price for BTC is just pushing above the 50 day average and also the 200 daily moving average.   We made the low near the average for the last year and look set to repeat the price of late July.

  It will be the latest iteration of what we've been doing for 6 months, only the highs are slightly lower and each sell off is a greater retraction of 2024 gains.

That’s one way to go about this market as it is. It seems to swing or range within that price range. All you need to do is, have a definite plan on when and how. Not minding what it might take of you but, be ready to stay in the market and hold till you find price within a predetermined range to swap and prepare to rebuy.
Otherwise, you just have to keep hodling and not give in to some predictions that are far from accurate. There isn’t any accuracy to these predictions and no one cares about what happens to your precious Bitcoins after you lost them to the direction these guys stir you to.

There is really no reason to trust any of these so called experts is something I have been saying for a very long time as well. They are all just making these up and there is no reason that we see them as people who we should care about when they say something. They are making things up, and they are trying to tell you things that they believe but nobody can know and neither can they, they have no idea what's going to happen. Do you want to know how I know that?

In 2008, all these "smart experts" were so wrong that they caused a global crisis in a huge manner, there is no reason to keep trusting them to do something like this and they still failed at that time and we know that they are going to be terrible for long term as well. We can't trust people who are in the financial world, financial world is constantly wrong too and they only survive because they lobby the politicians and they also get billions from other rich people to continue which is why they are not bankrupt.

Totally, swinging is a good strat at the moment where the determination of each side can't break another

it's just speculation, just like how a 3rd rate trading guru could also make speculation, the truth is no one know for sure how bitcoin gonna play out, i mean it's already retesting bottom few times already and always bounced back to the elvel of $60k.
there's always possibility that bitcoin might turn bearish and we're in for another bearish cycle even though we haven't reached $100k yet, but the speculators are so torn into two sides right now.

i personally will just take advantage of the swing trade while it lasts, price always swinging around $52k-63k it's great opportunity for future contract with leverage just make sure not get caught up in a flash dump that could liquidate all your fortune in one fell swoop.

Peter Brandt doesn't have to mention this, if thats how its being framed then its just advertising and its a catchy headline as said.   I put it in my gloom thread as a classic theme, it sells newspapers, gets views, whatever.  A computer could tell you because its two averages and computers can count like anyone.   You can set alarm for it on a chart or spreadsheet but as an idea its trying to show the market mood may vary.    Everyone knows that essentially we haven't moved in price since March so almost anyone who wanted to know already had a clue about this 'sign'.

I was just looking at the chart and the last time we fell and traded below the 50 week average it was November 2021.   So it has been some time since this kind of action or volatility was apparent, each of these notable events is a reason for caution and fair to discuss.   My very basic take was it adds upto to forthcoming greater volatility, I still find we're positive but I do assume some battle is in prospect.    I said in the spring its probably the autumn that we'll do a greater move, to start this year so big and expect a repeat with no sell was too much and this is the tail end of a bull whip perhaps.

  It seems fair that we must challenge the negatives head on not ignoring sellers, any more gains without selling seems a bit greedy and unstable.  I reckon BTC could result in being worse off if not corrected both by time & price action with volume.  The lows not highs on each time frame, week, month and year are what takes precedent.  Whatever the low that might occur it'll be an improvement on 2023 and for 2024 this was the primary objective, in a grand perspective this will remain the most important achievement for the year.

Since February Bitcoin is holding strong above the 50,000$'s, and there isn't any strong argument to believe it's going to fall down right now. It's quite the opposite, the price seems bullish, constantly breaking the 60,000$ line to consolidate its price on that range. Resistance is still fierce, though, but nothing so impacting to dump Bitcoin into a bearish tendency.

The death cross sounds like FUD to generate traffic and engagement for online portals which profit through ads banners. Of course it's worrying news for most investors, as it could lead the market to massive sales of Bitcoin in case that happened, so people are likely to click the link and read the news to check if it's a possible possibility or not.

We already had something worse than a hypothetical death cross, which was the fear spread weeks ago through German government selling coins and Mt. Gox redistributing funds to customers.

ARK Invest doesn’t have the best track record these days. That note is ridiculous as well. Thinking that the direction of Bitcoin’s price is at risk. These people think they’re so smart that they don’t realize how dumb they are. Someone needs to sit this guy down and tell him that, “it’s the four year cycle, stupid.”

Just for context for newbies out there who might read this thread, this is the definition of a Death Cross based on a quick google search:

I didn't look at the charts to confirm this one because I don't care and if this is true then I guess I need to stack up some cash starting now because in a few weeks, we might see the market tumbling. Whether this is true or not, it doesn't matter to me because I will not change my current strategy which is to continue DCA. TBH, this thing (if it's true) would be a good thing because we will have another opportunity to buy Bitcoin and other altcoins again at a lower price. Don't investors like it?

As for newbies out there, don't panic and instead take this as an opportunity to buy Bitcoin even more. Panicking will lead you to more losses or if you don't have spare cash as of this moment then just do nothing, or instead focus on learning instead of deciding whether you will sell when the market is down or not.