Bitcoin just triggered a DeathCross :)

☠☠☠ Doom And Gloom Ahead For Bitcoin ? ☠☠☠

A Death Cross is an old trading superstition indicated by the 50 Day Moving Average crossing below the 200 Day Moving Average.

In the past it has often been a good indicator for a significant sell-off in the stock (or in this case Bitcoin). Whether or not it will happen who knows, but good for a bit of drama.

Youtubers everywhere will be squealing in delight with all the new DeathCross videos they can make for views :)

What do you think will happen ?

$20k on its way - or a bounce off $30k and back to all time highs?

Also, did you know that on TradingView we have chat rooms where you can discuss all things trading?

Come and check out the Crypto chat room if you haven't seen it yet. Better bring your sense of humour though. Bit of the wild wild trading west in some of these rooms.

Crypto chat: www.tradingview.com/chat/

Comment:

Note: The death cross indicator has proven to be a reliable predictor of some of the most severe bear markets of the past century: in 1929, 1938, 1974, and 2008.

You can read a lot more on the DeathCross and what it means here:

www.investopedia.com...rms/d/deathcross.asp

Comment:

Big 20% drop after the DeathCross, but has proved very resilient for the last week or so holding above the $30k mark.