Hi everybody!
I posted a simple weekly Chart on BTC, and what I find concerning here is that we have the HISTORICAL closeness of EMA50 & EMA200. For the death cross pattern to be a strong indicator of a further strong downtrend there has to be a steep decline of a shorter average period indicator. We thankfully don't have it here in my opinion. BUT it is a very strong possibility that they will touch at least. This means, we could have more pain in the BTC Market if a death cross occurs. What's Your opinion?
Thank You and hold on!
I posted a simple weekly Chart on BTC, and what I find concerning here is that we have the HISTORICAL closeness of EMA50 & EMA200. For the death cross pattern to be a strong indicator of a further strong downtrend there has to be a steep decline of a shorter average period indicator. We thankfully don't have it here in my opinion. BUT it is a very strong possibility that they will touch at least. This means, we could have more pain in the BTC Market if a death cross occurs. What's Your opinion?
Thank You and hold on!