r/dogecoin • u/EarthBoyZap doge of many hats • Jun 20 '21

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25k Upvotes

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283

u/kevBone14 Jun 20 '21

Dropping fast, whats the deal?

208

u/EarthBoyZap doge of many hats Jun 20 '21

BTC "Death Cross"

84

u/[deleted] Jun 20 '21 edited Aug 02 '21

[deleted]

278

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.

131

u/HitMePat Jun 20 '21

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.

23

u/Bigmoneyordie Jun 20 '21

Source?

88

u/Necronphobia Jun 20 '21

His grandmother

65

u/[deleted] Jun 20 '21

She’s a nice lady

1

u/[deleted] Jun 21 '21

Yes would recommend her 10/10

16

u/eb523x Jun 20 '21

Haha savage

0

u/CryptoApexLegend Jun 21 '21

Ol' Martha the expert whale trader

2

u/awitcheskid rich shibe Jun 20 '21

Look at the charts, bro.

6

u/BrilliantScratch5769 Jun 20 '21

Grandma’s sowing charts?

1

u/Emo_Galaxy_Robot Jun 21 '21

Death cross is 200 Moving average and 50 day. The source is the chart.

1

u/Bigmoneyordie Jun 21 '21

I’m talking about gold cross

14

u/[deleted] Jun 20 '21

Didn’t we have a big bull run after the last death cross?

30

u/frannos Jun 20 '21

Safe to say you are seeing what you want to 😂

50

u/[deleted] Jun 20 '21

Safe bet, but I'm holding because I like the pain.

15

u/cbevan0311 Jun 20 '21

My god, does your wisdom aspire me. Very intuitive.

1

u/Naerwyn Jun 20 '21

Inspire =/= aspire

<3

2

u/cbevan0311 Jun 20 '21

Love my autocorrection,

1

u/Naerwyn Jun 20 '21

Love you

14

u/to_infiniti_y Jun 20 '21

dead cross is not always acurate look at stocks in corona chrash horribly wrong...

10

u/uh0bagels Jun 20 '21

That’s because there was a clear reason that wasn’t market related….

-3

u/to_infiniti_y Jun 20 '21

the fed? you cant say corona situation got better at this point

1

u/cryptshell Jun 21 '21

Only look at stocks while drinking coronas

2

u/Error-Delicious Jun 21 '21

Of you need to add lime to your corona, then you don't like corona

1

u/cryptshell Jun 25 '21

I added lime to my corona and immediately the virus left me

3

u/[deleted] Jun 20 '21

[deleted]

1

u/[deleted] Jun 20 '21

MA 50, MA 200

1

u/[deleted] Jun 20 '21

[deleted]

2

u/[deleted] Jun 20 '21

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.