Today absolutely every cryptoblogger talks about the Dead Cross. Many of traders scary this “dangerous” sign. But what does this sign exactly means?
The intersection of 200 days and 50 days moving averages (on the chart I use 1W timeframe but MA calculated on the daily timeframe) forms the Dead Cross if the 50 days MA was higher and became lower than 200 days MA. the opposite situation called Golden Cross. The first one is considered to be bearish, the second – bullish. BUT…. this is the total random. These crosses means absolutely NOTHING. Please, forget about this type of signal. If you take a look at the chart we can see that both crosses types can lead to pump or dump, and after that pump can be changed to dump and the opposite. This signal is available to everyone and whales are going to manipulate 100% using this situation.
Use only signals which efficiency you proved with your own system testing. If you want to know my opinion, I told you earlier that the Bitcoin is in bear market now, but I’m waiting for the short-term pump in the near future.