Topic: Death Cross on the Bitcoin Chart - page 2. (Read 366 times)

Exactly. Here's this line that's going up and this line that's going down. When they meet we'll have a cross

Really guys? We're going to talk about lagging indicators? Somebody should tell that guy that all such crosses based on MA lines are lagging a few weeks behind and the cross is a representation of a former bullish or bearish breakout. In other words, this cross is a lagging representation of the dump from August 4. It doesn't mean that there will be another one. There may be but more likely there will not be and we'll break above 65k and have another cross weeks later, this time a bullish one.

It's actually funny that when we got the news about that cross bitcoin did exactly the thing it's been doing for the past week - nothing.

Simplify the bearish and bullish bitcoin issue, DCA is the way to go and I wouldn’t care much about anything other than taking every opportunity to buy as much as I can afford. The “death cross” warning seems scary, when bitcoin has always proven that it will rise when all predictions say otherwise. This is the importance of long-term investing in bitcoin because you will eventually stop caring about the short-term situation regarding bitcoin movements.

Wow.

Another post offering astrology up as financial analysis. 😀

I get the meaning but sometimes these known people influences the market based on the bias that they want to get into so that people that follows them will be affected and might just go with the route with them altogether. I admire him with his craft as a chartist or a trader alone because I am not close to being good. But you're right that if they have seen something with the charts whether it's their bias or not and they have mentioned it and tells it publicly, that's how they'd react. I am only looking at the perspective of an investor and not as a chartist and day trader.

There is nothing wrong with the predictions that it can go down and even lower given with the prices that he's given. And with how volatile the market is, they're also changing quickly based on what they think and patterns that they're seeing in the charts. Still, I'd go with my belief that we'd see $100k for this cycle and I hope it happens any time soon to also break these predictions and analyses done by the bears.

Till now the price of bitcoin has not hit $100k according to Peter Brandt prediction some years ago, which will be the reason many people will not going to pay attention to Peter Brandt prediction again, because he came out openly on the social media that before the end of 2023 bitcoin price will move to $100k which has not come to pass, and he has come up with another prediction that the price will dump to $46k for bear season to continue.  If you look at their write up very well, you will understand that they are trying to convince their followers on social media, that they are experts in bitcoin prediction which I know that he is not an expert in bitcoin prediction because I know that the price of bitcoin will not dump bellow $50k before it will return back to bull season.

It’s obviously the scheme all along, using influence to try and infiltrate the minds of traders thereby, creating a sentiment about a prediction to see it come through.
This only works with newbie traders and I mean that in the sense of the word, traders who lack the expertise to discern their own analysis and is often moved by what this internet sensation said or did not say.
No one is held accountable when it doesn’t play out as, it’s just a prediction. Looking at it from that context of prediction could help many forks of not being deceived into making rash decisions with their assets.

Anyone who says that is obviously not looking at who is buying 10 days to 2 weeks ago when BTC did a big dip institutional buying went nuts and picked up a ton of coins.

So yeah, compared to Aug 4th to 7th institutional buying is down since they just picked up a bunch of coins @ $50k +/- a bit. It would be silly to buy at $60k +/- a bit.

That is how it works. Big buyers don't have open orders sitting on exchanges either. They have internal programs that trigger buys & sells at particular prices. So we don't know what their next buy in price or sell price is.

-Dave

Peter Brandt is an experienced and professional trader who is very flexible with his thinking on the market. He calls himself as a "chartist" and his thinking can change quickly when the chart changes.

He knows what is investment and he sees potential of Bitcoin as a long term investment. Months ago, maybe in a bear market he wrote a post on Twitter with some notes and warnings of basic trading principles. I like this point most, he said "One of worst mistake in trading, is feeling sure about next movement of the market and don't use stop loss or stop limit order". I wrote this sentence from my memory, not an exact sentence he wrote but I hope you can get the meaning.

One of the best weapons in trading.

To be honest, I like Peter Brandt because during the bear market years ago, he said that Bitcoin will still reach $100k. I'm not sure if this is just a write up of changelly for them to gather attention or if he actually said that. But either of it, when we're on these times and these known folks are telling something about the bearish is about to come then expect that the opposite of it might come. That's what we have observed for the longest time so, thanks but no thanks for that death cross whatsoever analysis.

The panic time is the best time, but how many investors accept this? Instead they will still get shaken out of their hodl.

I don't believe this is the best time to start buying, I could be wrong but I don't care, there have been too many price action predictions since April of this month and every single one of them are lies, I don't believe in anything that anyone says, not in this crypto market, when price plan to move it doesn't give anyone a clue, all those pro traders are just guessing and using stop loses here and there, they knew they could be wrong.

The best time I got into Bitcoin was in 2022 and 2023, 17,000 range and also 15,000 range, why should I fomo now? Even if BTC starts breaking out that doesn't mean you will always be right, the best plan is DCA when market tumbles to avoid Fear and FOMO in the market, my bought price are well secured for this bull market, I would rather advice beginners to learn when to buy at safe positioning and have the patience to wait it out.

Judging by the poor threads the OP generally opens, opening this one with two quotes from an email is not going to make me base my investment decisions on it. He usually bases his decisions on all sorts of conspiracies, so I would say that in this case, at most, he would be a contrarian indicator: the most normal thing is for the price to go up.


There we go.

For the fact that Peter Brandt spotted a seeming "death cross" on the charts is enough for me to not take it seriously. He's got a rep of always giving inaccurate predictions which aims at striking fear into the minds of weak investors and holders.
Although in the past week, we've recorded some lows in the price of Bitcoin but thats not news, we know it's volatile and can sometimes touch a low but today's price seems like we'd see some upward moves as it has entered the $60k mark.

Yea you are dam right bro, most of this investors knows exactly what they are doing, they are just purposely striking fear into the minds of newbies investors because they knows what they usually stands to  gain anytime their is a panic sell in the market, and most times it's being done by most of this crypto whale, but anyone that truly believe in Bitcoin and have the intention of holding for a very long period of time, shouldn't be that bothered anytime their is a negative news about Bitcoin.
Secondly, about this constant prediction by most investors, I really don't think that they have any direct effect on the value of Bitcoin, just that the chaos it mostly cause in the market is what they mostly makes money from,  just as you have rightfully said, and it's mostly newbies investors that always falls for it.

Each time people come up with these predictions, they give themselves some big titles like " crypto experts, "trading guru", "crypto chief analyst", and Peter Brandt is now " trading veteran". All these titles and predictions are to instigate fear because they have the intention to buy at a low price. When they want to sell, they will come up with predictions that the price will go to the moon in a few days. People should have gotten used to this unnecessary alarm and ignored it. He is predicting a death cross while the Bitcoin price has crossed $61k; all these predictions are mere personal assumptions.

if anyone says "death cross" its time to unsubscribe from their youtube channel

terms like death cross are empty buzzwords of stupid chart observations that do not result in a certain action..

anyone can make some chart of differing Moving Average times to cause a different line, thus a different direction of some line they made and chose to promote

what these idiots hope is that their influence of saying something will cause it to happen and then pretend it was a prediction.. its the same scheme as pump&dump groups

by screaming fear causes everyone to run in fear even if there was nothing scary coming beforehand the empty scream

its as bad as saying someone will die at a location, to cause people to panic and run, which causes people to push over each other and trample on people and the trampled person then dies.. and the instigator of the panic then says "told you someone would die"

by saying theres a death cross, the instigator wants people to panic sell to cause a dip, so he can buy cheaper and then tell people "oh look i told you it would dip" .. but it was him that was the trigger. not the death cross

over the years many did play into these schemes and it did become a pattern, until smarter people learned the pattern and then counter-planned the pattern to work against the pattern, thus breaking the pattern

many people have become immune to these pump and dump tricks which is why they dont happen as much and people dont fall for it as much which ends up with influencers becoming shown up as wrong.. which case most influencers would just delete that video when they are wrong and just keep the videos of the times their scheme did work. and then later shout "look at my playlist at how often i was right" to then try to instigate further pump and dumps with fake "proof"/trust of success rate

in short dont be fooled into these games

It is a buying opportunity for some intelligent investors but is panic time for majority of market participants.

With intelligent investors, they will focus on long term and short term death cross is not important with them. Sometimes death cross is valid and kick off a bear market but some other times, it is invalid death cross and after a while, a bull market continues.

https://charts.bitbo.io/yearly-candles/

With yearly candles, there is no death cross.

If I didn't believe them in their positive predictions, I don't see any reason why I should also believe them in their negative predictions.

I disregarded Peter Brandt's $200,000 bullish prediction, and I will also disregard his bearish "death cross" warning. In the same manner that I also didn't believe in Ark Invest's $3.8 million prediction, so I don't think there's any reason to believe in their "shaky" signals. 

And what do they exactly mean by backed by "on-chain data"? There's nothing in the blockchain that speaks of future prices. It's only their wild interpretation and imagination.

Also, institutional buying isn't on pause. Lately, I've read that Marathon Holdings' $250 million offering to buy more Bitcoin is oversubscribed, Morgan Stanley allocates $187M for Bitcoin a week for their clients, The Wisconsin Investment Board bought another $15 million of Bitcoin ETF, Sculptor Capital doubled its Bitcoin ETFs holdings to $116 million, 701 new funds reported positions in spot Bitcoin ETFs, and so on.

A buying opportunity coming up... from Changelly email.

"Having spotted a “death cross” on the weekly chart, trading veteran Peter Brandt noted that Bitcoin might have  shifted from bullish to bearish . Though not always a sure predictor, it hints at a possible downtrend.

"David Puell from ARK Invest highlighted  key support levels at $52,000 and $46,000 , the latter backed by on-chain data. With institutional buying on pause and technical signals looking shaky, Bitcoin's short-term outlook is uncertain, and the next few weeks will be crucial in determining its direction."