themerkle
Short

Upcoming death cross signals potential bear market

BITSTAMP:BTCUSD   Bitcoin / Dollar
Looking at the 100 and 200 day MA we can see that if Bitcoin's price doesn't keep rising that a bear market is imminent because the 100 and 200MA will form a deathcross. However, if the bulls loose keep their momentum then the way is clear for further price rise.

While a Golden Cross is a well known technical indicator don't get too exited because it doesn't seem to work too well for bitcoin . As you can see last time the golden cross formed the market actually ended up crashing harder than before.

I am going to play it safe and sleep in fiat.

Full analysis: http://themerkle.com/technicalanalysis/bitcoin-technical-analysis-for-21916/
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