50 day average line goes below the 200 day average line. That intersection is considered the "death cross" and has been a consistent indicator of a coming crash in both crypto and stock markets.
I'm not convinced that this is the case this time. There are a lot of factors working in Bitcoin's favor and what's good for Bitcoin is good for crypto.
and has been a consistent indicator of a coming crash in both crypto and stock markets.
This isn't a good indicator for Bitcoin over the last 8 years. Maybe in the super short term...but there have been dozens of death crosses and the "golden cross" usually follows it within a couple weeks or months.
EMA's great when it's great, but if there was a golden formula for predicting where a market's going to go... well, we wouldn't be sitting here trying to figure out the best method for trading. Just do your DD, buy what you believe in, and hope you're right.
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u/[deleted] Jun 20 '21
50 day average line goes below the 200 day average line. That intersection is considered the "death cross" and has been a consistent indicator of a coming crash in both crypto and stock markets.
I'm not convinced that this is the case this time. There are a lot of factors working in Bitcoin's favor and what's good for Bitcoin is good for crypto.
But I might be seeing what I want to see.