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:






** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (http://www.investingscope.com).
every moron here just draws lines to justify what they want to happen.
+2 Reply
I think bitcoin will move as follows.
Reply
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!
Reply
Same!!
Reply
@pkb6698, Very nice. Try using the parabolic channel to get a better grasp of the long term movement!
Reply
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!
Reply
BTC – be like John. Invest wisely in BTC. Have over 5000% return.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out