InvestingScope

Bitcoin: Bottom in/close? What do the Death/Golden Cross tell us

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is a basic but informative illustration of the Death/ Golden Cross occurrence on BTCUSD .

During the last bear cycle (2014/ 2015) the Death Cross occurred just before the cycle'c bottom was made in January 2015. The bottom was made 3 weeks after the Death Cross took place. What followed in the coming months was a year long consolidation period that stopped with the emergence of the Golden Cross, which basically signaled the start of the 2 year hyperbolic bull market on Bitcoin .

Focusing on the current chart we see that the same MA 200/50 pattern is followed with the appearance of the Death Cross in early November, just before the latest bearish leg that took BTC close to 3,100. Although 3 weeks have passed since the Death Cross, we didn't get the full -63.67% decline of the previous 2014/ 2015 cycle, so the bottom has high probabilities of being already priced in. This shouldn't matter to long term investors as the pattern that follows is fairly clear: 1 year consolidation until the next Golden Cross occurrence that will signal the next bull market.

See our previous studies on the probability of this consolidation period that lies ahead:






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every moron here just draws lines to justify what they want to happen.
+2 Reply
I think bitcoin will move as follows.
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InvestingScope Lakshmi-Trader
@Lakshmi-Trader, Thanks for sharing but how do you historically justify the 400 and 200 levels on your chart?
+6 Reply
I like how simple and clear the chart is! Thanks for sharing!
+4 Reply
@BradMetz, You are very welcome!
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Same!!
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@pkb6698, Very nice. Try using the parabolic channel to get a better grasp of the long term movement!
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Thank you for your work! It's fantastic.

I've mocked up a BTC analysis video for today. In this I discuss the relevance of the 128MA | ABC corrective wave | Monthly RSI | BTC Futures impact and many more things:
Reply
InvestingScope Cryptosomniac
@Cryptosomniac, Thank you for the time and effort you put into this video!
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BTC – be like John. Invest wisely in BTC. Have over 5000% return.
+1 Reply
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