What About The Death Cross? Bitcoin Death Cross Signal Explained
This is literally the question most often asked in the comments section when I share any article on Bitcoin … But what about the death cross?
When we do chart analysis, we do not take signals independently but instead we look for multiple signals to support our bias.
Meaning, one signal alone isn’t good enough to call for a jump or drop in prices.
With that said, all signals have their meaning/value.
Some signals can be weak while others can be strong…
Having multiple signals pointing in the same direction can give you a better idea as to what is happening with any pair/asset and what might happen in the days to come (we are looking at the ).
Back to the Bitcoin Daily (D) Timeframe Death Cross
Prices tend to gravitate towards the MA lines.
As you see MA50 and MA100 curving down, prices tend to gravitate towards these and move up…
The death cross as it shows up here is a “mid to long-term” signal.
Meaning that prices can bounce (move up) before going lower… It all depends on where the cross shows up and its strength.
The charts are always changing… Let me show you an example of a failed death cross:
Here we have the price “bounce” before lower prices…
We are likely to see something similar with the recent death cross we are experiencing since it showed up after a new All-Time High.
If the cross shows up after hitting support or a new low, then the results might be different…
Were you entertained?
Thank you for reading.
Thanks a lot for your continued support.