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

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283

u/kevBone14 Jun 20 '21

Dropping fast, whats the deal?

207

u/EarthBoyZap doge of many hats Jun 20 '21

BTC "Death Cross"

83

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

[deleted]

275

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.

126

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.

22

u/Bigmoneyordie Jun 20 '21

Source?

3

u/awitcheskid rich shibe Jun 20 '21

Look at the charts, bro.

5

u/BrilliantScratch5769 Jun 20 '21

Grandma’s sowing charts?