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CM

Bitcoin almost down to $8000 but forget the 'death cross'

Blockchainbull in Markets & Trading

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Blockchainbull    + 26

CM

Yes, bitcoin's trading really close to $8000 (at precisely this moment, it's $8,199), but all the media talking about a 'death cross' trading pattern are trying to fit square peg into a round hole .. there is no set of technical indicators that can help you with bitcoin in my opinion. Some are calling a $2,800 price. I'm not seeing it, though. At least not in the near future. 

As for the 'death cross'--that's when the 50-day moving average drops below the 200-day moving average .. and we're not there yet, but this is what it looks like (a lesson in futility): 

 

Screen Shot 2018-03-16 at 8.03.05 AM.png

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