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Monday, February 13, 2023

About crosses

About crosses

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Those who read me regularly know that I don't use MA 50/200 crossing indication.
But it's something to consider here, as it's fun. Let's take a walk back in history at the same time.

There is a contradiction in indication MA 50/200 at this time.

1. Top left screen. For the first time in Bitcoin trading history, a death cross has formed on the 1W chart. Oops.
2. Top right screen. At the same time, a gold cross on the 1D chart formed on 6 February is in effect.

And here I thought about historical examples.
One, have we ever had a golden cross and a death cross close enough to each other on a daily chart?
And two, have we had crosses on a timeframe older than 1D?

3. Lower left screen. Yes, a golden cross formed in February 2020 and already a death cross in March 2020.
The famous total market dump. However, the very fact that it happens.
4. Bottom right screen.
Yes. We've had crosses on a timeframe longer than 1D, and this is my favourite 3D chart.
I remember that November 2018 dump perfectly.

It's also true that there was a 1D cross before the 3D cross on the 2018 chart before that.
That is, the crossing did not work in contraposition.
The current situation is developing precisely that in antiphase for dayly/weekly crosses.

We have an example that a death cross on a timeframe larger than 1D has serious consequences.

Via TradingView Ideas

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