This is a double overlapping of when the 50ma and the 200ma crossed at almost the same exact point we are at now back in 2014 and you can see where it went from there. Not saying this will happen, but if our support can't hold where we are at right now then it is probably not avoidable.
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You can scroll this chart all the way back to 2014 and see for yourself where the cross happened BTW.
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As petrreo pointed out lets see another scenarios from the past. This is in 2012 around the same time frame and these were the results. After this golden cross they did not cross again until 2014. The immediate golden cross actually caused a bullish move with no rebounding deathcross.
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Here is from 2015, but different time frame and I would say very different pattern. Nonetheless, here were the results: Golden Cross went bull with no rebound deathcross.
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I am seeing some resemblance here. I personally do not want BTC to start going up too fast right now. If it continues to follow this chart and actually hits 11,800 by May then I would start to worry that this chart might come true because we could get a rebounded death cross. Just something to watch for is all.
Back than the 50MA was sinking fast... today it is going to kiss the sister 200MA.
What if they just cross themselves twice in a row and golden cross will come immediatelly after death cross?
Just asking :-) Curious onn different scenarios .. and this one is likely :-)
Joeshmoguy
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@petrreo, Thanks for commenting. Well, if you scroll back this chart to 2014 you will actually see that the scenario you just outlined did happen as well. When they crossed, the dip in the middle formed, moved sideways, and then the upswing shortly after that was caused by a golden cross (same as you speak of). Then what followed was another deathcross in June at the top of this upswing which in turn caused a year long downtrend. Now, I do think we are in very different times than in 2014 especially with the notoriety of BTC being more prevalent now. Therefore, I think this is more of something to keep an eye on for similar future trends rather than any sort of definitive outcome by any means. I would prefer they just don't cross of course :)
Joeshmoguy
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@petrreo, Correction: The second deathcross happend in August of 2014, but the downtrend started in June.
petrreo
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@Joeshmoguy, Thank You for replying. I think, that the year before that should have been quite educative too :-).... I can not check right now, however I think that back than the MAs just kissed each other and it resulted in bear trap. Many many feared death cross, however the dip was shortlived and after the start of the bull run ... the growth continued till the peak in 2014.
Joeshmoguy
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@petrreo, I posted some more charts above as I completely agree with you that we should look at other scenarios. I do find it interesting that in 2012 the death/golden cross was good and we skipped a year (2013) without a cross until 2014 when it caused a death, golden, death cross scenario. Then they crossed again in 2015 which was very similar to the pattern and result as in 2012 death/golden then bull run. Then it now skipped two years from what I can tell. No cross in 2016 or 2017 until now. Interesting.
petrreo
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@Joeshmoguy, You got it ;-)...
I hope it will look at least little bit like in 2012 :-D
What if they just cross themselves twice in a row and golden cross will come immediatelly after death cross?
Just asking :-) Curious onn different scenarios .. and this one is likely :-)