Topic: Death Cross on the Bitcoin Chart (Read 366 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.

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."