free web page hit counter
Death Cross, Golden Cross - It Shouldn’t Matter To You, And Here’s Why

Death Cross, Golden Cross - It Shouldn’t Matter To You, And Here’s Why

All Cryptocurrencies

by COINS NEWS 27 Views

THEY ARE LAGGING INDICATORS - for who doesn't understand what that means, you are taking the 50-day moving average for Bitcoin and the 200-day moving average for Bitcoin. If they intersect downwards, this means that the 50-day moving average (the average Bitcoin price of the recent 50 days) is moving lower than the 200-day moving average. This is a so-called 'death cross'. It's literally just taking 2 averages over an arbitrary time period and saying 'okay, they crossed so it matters'. All it does is show the recent trend. A death cross says nothing more than looking at the charts and saying 'boy, we really took a beating over the last few weeks'.

&

Take a look at what happened when we hit the death cross, up until now, where we just had a golden cross. Fuck all is the answer. The death cross happened around $35.000 (Bitcoin), as we all know we crabbed around between 28k - 42k for the better part of 2 months. The death cross did not change that fact, it only acknowledged the downwards move we had from 65k, which anyone could see even without some silly lines intersecting.

&

So now a golden cross is up. Lo' and behold, the death cross did not mean immediate doom and destruction. So what will this golden cross mean? 100k in weeks, days even? Or will it mean fuck all, just like the death cross? Yet again, the only thing the golden cross indicates is that over the past few weeks we have been crabbing around 30-35k, and now we are significantly above that, therefore moving closer to the 200-day moving average. Making the cross happen might be a small psychological victory, but it's nothing more than that. For all we know, we are still in the deadest-of-cat bounces and after a legislatory smackdown we will see 10k Bitcoin after all. Or maybe we will in fact reach 100k in days, because Walmart did actually accept litecoin after all.

&

TL;DR - Don't make your investment decisions based on silly technical analysis and straight up exaggeration. A golden cross is similar to a death cross, psychological barriers and nothing more than that. Don't expect significant price movement after a cross, since it's not guaranteed to happen. Buy the coin you want based on research, what does the coin do, what gap does it fill, is it technologically solid, etcetera. Bonus tip (which has been spouted around so much you will have read this before), don't buy big quantities at once. Spread it out over a few weeks, so volatility gets averaged out (Dollar-cost average theory).

&

TL;DR of TL;DR - We don't know shit about fuck, stop listening to this cross analysis.

submitted by /u/Whiterossy
[link] [comments]

GET CARD FOR FREE NOW!

Comments