I Call your "DEATH CROSS" and I Raise you my "LIFE SUPPORT!" (One-Liner)
Introducing my "One-Liner" series.
Sometimes I just want to share an information tidbit without creating a full post.
This is the essence of my One-Liner series.
Death Cross vs Life Support
The so-called Crypto/Bitcoin "Death Cross" has been on everyone's lips lately. It's where the MACD 50 and 200 day moving averages cross.
An interesting pattern popped up on the market cap charts this week. Obviously a support level that has been tested, and held. It could signal the bottom of the market which, as I have been saying, is imminent.
Prophets of doom: I hereby counter your evil "Death Cross" with my more powerful "LIFE SUPPORT!"
Modified by Bit Brain. Originally from https://coinmarketcap.com/charts/
For reference: here is the so-called impending "death cross":
From https://twitter.com/CNBCFuturesNow
Not so scary now, is it?
Yours in crypto,
Bit Brain
DISCLAIMER:
I am neither a financial advisor nor a professional trader/investor. This is not financial advice, investment advice or trading advice. Unless otherwise stated, all my posts are my opinion and nothing more. Crypto is highly volatile and you can easily lose everything in crypto. You invest at your own risk! Information I post may be erroneous or construed as being misleading. I will not be held responsible for anything which is incorrect, missing, out-of-date or fabricated. Any information you use is done so at your own risk. Always Do Your Own Research (DYOR) and realise that you and you alone are responsible for your crypto portfolio and whatever happens to it.
This Death Cross is such utter nonsense, I can't believe that people really believe that horsecrap.
So one lagging indicator may or may not cross another lagging indicator, big deal ? lol A so called 'death cross' means the market started a downtrend 3 months ago, hardly breaking news.
And what's the significance of a 200MA and 50MA ? why not a 205MA and a 47MA ? Is there some mystical significance of those magic numbers, that work on every asset in existence on every time cycle, woo !! spooky.
And people question why 90% of people lose money trading, it's because their heads are full of this crap and they make decisions based on it.
I'm not having a go at you man, just the people banging on about death crosses and other rubbish like it's the end of the world or something.
ps, I like your nifty animated banner at the bottom, looks really good ! 8-)
Exactly. I could show you a "death cross" every day. Tomorrow the 150 and 1000 may cross. Are round numbers supposed to make it more professional and official?
I could also go through every single indicator available, and I'm sure I could pick a setting to make almost all of them look bullish. It's a matter of perspective and cherry-picking your data. Just like statistics.
The banner I spotted on someone else's post. No credit was given to the source, so unfortunately I can't pass it on. I hope that banner copying is not frowned upon in the rather "relaxed" crediting environment of Steemit etiquette.
I swear dude, I've seen peoples comments like "when the death cross happens I'm going to sell everything and invest in XYZ shitcoin instead" or "this death cross will shake out all the weak hands, so I'm going to keep buying more as it falls !".
madness, just madness :-(
btw I know what you mean about the crediting environment, all some of the whales do is just post links to other peoples YT vids, and they seem to do all right out of it.
Ha! so true. Funny though, the second statement could be true ("this death cross will shake out all the weak hands, so I'm going to keep buying more as it falls !"). THE GREAT AND MIGHTY EVIL DEATH CROSS is exactly the kind of thing that makes noobs panic and run!
I'll be honest and admit I didn't even know it was called a 'death cross' until recently ! To me it's just called an MA crossover. I thought it was just some creepypasta made up by a 14yo skid to sound cool.. Maybe it's just an American thing or something.
I'd never heard of it myself. MA crossover: sure, all the time. But "Death Cross"; rather over-dramatic isn't it? Must be American! 😂
And as for lazy whales - harpoon them!