Bitcoin Death Cross On Monthly MACD Spells Doom For December

Bitcoin Death Cross On Monthly MACD Spells Doom For December
фото показано с : bitcoinist.com

2019-12-3 18:30

A bearish cross on Bitcoin’s monthly moving average convergence/divergence (MACD) indicator could spell challenging times ahead. Such crosses occur when the 26-week moving average (MA) of BTC price goes above the 12-week MA.

A Cross Into Bearish Territory

As pointed out in a tweet yesterday by commentator, Byzantine General, the 12-week MA fell below the 26-week MA on the monthly scale. This indicates that a negative short term trend is having more of an impact than underlying movements in BTC price.

The monthly MACD on #bitcoin just had a bearish cross.

Yikes. pic.twitter.com/kOB65aOAq3

— Byzantine General (@ByzGeneral) December 1, 2019

In general, indicators on higher time-frames give stronger signals, so a bearish cross on the monthly chart is seen as especially bad.

Bitcoin has been struggling to regain its upwards price momentum from earlier in the year, which saw the end of 2018’s crypto winter, with gains of over 300%.

Since then the market has trended slowly downwards, with occasional signs of a breakout, but nothing which could overcome upper resistance. Similarly, there have been occasional crashes, although these have so far been met with strong support.

Bitcoin Indicators Aren’t Always Accurate

Back in June, Bitcoinist reported on a bullish cross on the monthly MACD. This occurs when the 12-week MA crosses above the 26-week MA, and signals that short term growth is outpacing the longer term upwards trend.

The bullish cross in June was only the third in Bitcoin’s history, and the two previous examples had preceded periods of parabolic growth in Bitcoin growth.

However, this time the cross occurred when BTC had already risen from lows of just over $3000 to break $9k. Whilst the rally did continue for another week to reach this year’s local high of almost $14k, it then fizzled out.

We certainly didn’t get the parabolic growth expected from such an indicator, so we can only wait and see what plays out for bitcoin price following this bearish cross.

Are you concerned about Bitcoin’s MACD death cross? Add your thoughts below!

Images via Shutterstock, Twitter @ByzGeneral

The post Bitcoin Death Cross On Monthly MACD Spells Doom For December appeared first on Bitcoinist.com.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Moving Cloud Coin (MCC) на Currencies.ru

$ 7.69E-5 (-0.86%)
Объем 24H $0
Изменеия 24h: 2.58 %, 7d: 13.77 %
Cегодня L: $7.69E-5 - H: $7.69E-5
Капитализация $0 Rank 3511
Цена в час новости $ 0.0023579 (-96.74%)

moving bitcoin macd monthly average cross crosses

Источник: bitcoinist.com

moving bitcoin → Результатов: 126


Фото:

How Bitcoin Could Reach $5 Million Per Coin

On Oct 15, for the first time in three years, Bitcoin witnessed a bullish crossover of the 100- and 200-period moving averages on the three-day charts. However, the asset has so far failed to leverage that breakthrough and remains stuck in the $8,300s – the same spot where it has been over the past few […] The post How Bitcoin Could Reach $5 Million Per Coin appeared first on BeInCrypto.

2019-10-16 12:17


Фото:

For the Bitcoin Price to Reach $9200, the 200-Day Moving Average Must Be Breached

Moving averages (MA) are often very significant in determining future price movements. The price of an asset, like Bitcoin, often reacts to its MAs — either using them for support or resistance. The higher the number of times an asset reacts to an MA, the higher its significance — thus, the more likely it is […] The post For the Bitcoin Price to Reach $9200, the 200-Day Moving Average Must Be Breached appeared first on BeInCrypto.

2019-10-10 17:29


Фото:

Bitcoin Price Likely to Breakout Alongside S&P 500, Says Tom Lee

US stock index S&P 500 is moving towards new highs, and that can be a catalyst for another Bitcoin rally, says Thomas Lee, Head of Research at Fundstrat. Bitcoin to Benefit from Stock Market Confidence While the largest cryptocurrency has proven to have a low correlation with traditional markets, a stock market rally could add to the overall confidence of investors, and that might be a boost for Bitcoin as well.

2019-10-10 14:00


Фото:

Did Bitcoin Crash Or Dip? Crypto’s Trajectory Moving Forward

Given the decline of cryptocurrency markets over the past week, it may be a good time to put things into perspective about the latest dip. While the usual advice to ‘zoom out’ is scant comfort during a bear season, it may be reassuring to note that many of bitcoin’s metrics are still in an upwards […] The post Did Bitcoin Crash Or Dip? Crypto’s Trajectory Moving Forward appeared first on Crypto Briefing.

2019-9-28 21:31


Bitcoin Price Breaks Below $8,000 Just Days After Triangle Breakdown

Bitcoin price is currently below $8,000 just days after breaking down from a multi-month triangle pattern where it was consolidating. With Bitcoin now trading below $8,000, where could the leading crypto asset by market cap go next for targets? Bitcoin Price Trades Below $8,000, Breaking Through 200-Day Moving Average Bitcoin price is currently free-falling, trying.

2019-9-26 19:13


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

DASH Price Continues To Follow A Downward Trend, But Why?

One of the leading scalable payment providers in the world, DASH, has attained a significant level in the crypto industry. But like other cryptocurrencies, the price of DASH is subject to volatility, and its value can fluctuate significantly in a short period.

Bitcoin Bulls Wrestle for Control of the Correction

The Bitcoin (BTC) price has been on a downward path since being rejected on Sept 19. The price is likely nearing the end of its correction and a significant bounce is expected soon. The Bitcoin price has been decreasing since reaching a high of $11,183 on Sept 19.

Is Ethereum About to Break Out of a 2-Year Bear Market?

Crypto markets are holding steady for another day following a slight pullback from their recent rally. Ethereum is still looking strong but can it finally pull out of its two-year bear market? Ethereum Bulls Building Since the beginning of 2020 Ethereum has outperformed bitcoin.