CoinCrack
Long

BTCUSD 50 day MA 200 day MA Cross?

BITSTAMP:BTCUSD   Bitcoin / Dollar
It's not fair to say we've ever seen the 50 day MA cross the 200 day MA to the upside on decent volume .
The first time around (early 2012) was so early on, however lead to a 2 year rally.
The second time around (July 2014) was on very low volume and couldn't break above recent highs so broke down.
This time around, we have decent volume , already above recent highs and lots of positive (for BTC             ) market forces at play. This is typically a strong indicator of the beginning of a strong upward trend.
Sadly I think the exact opposite will come true. More like the 2nd cross and not like the 1st cross. Why? Because overall Bitcoin is still in a 1 year downtrend and also in a 2 year downtrend.
Reply
ChartArt ChartArt
April 9-10 in 2014 is a great example why initially this classic MA cross is a contrarian indicator.

Bearish cross back then. What happens: Price shoots upwards.
Reply
CoinCrack ChartArt
Was that not also a signal of a newly forming long term downtrend?
Reply
ChartArt CoinCrack
Yes!
-2 Reply
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