Definitions of a bear market vary, but there are three truly fundamental ways to define it:
Despite its sensational name, a death cross (and indeed a golden cross) are incredibly reliable indicators of the approaching market trend. We last enjoyed a golden cross on 23rd April, just days before the 177% pump we then experienced throughout May and June.
However, with BTC now held firmly by 200 MA resistance, we have an incoming death cross due to occur on or around 21st October. If this happens it massively increases the likelihood that we are back in a confirmed bear market and heading down to retest the range between $4000 and $6000.
Do you believe we can avoid a death cross? And will it confirm that we are indeed in a bear market?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
- Are we below the weekly 21 EMA = YES.
- Are we below the daily 200 MA = YES.
- Is the daily 50 MA below the 200 MA = almost.
Despite its sensational name, a death cross (and indeed a golden cross) are incredibly reliable indicators of the approaching market trend. We last enjoyed a golden cross on 23rd April, just days before the 177% pump we then experienced throughout May and June.
However, with BTC now held firmly by 200 MA resistance, we have an incoming death cross due to occur on or around 21st October. If this happens it massively increases the likelihood that we are back in a confirmed bear market and heading down to retest the range between $4000 and $6000.
Do you believe we can avoid a death cross? And will it confirm that we are indeed in a bear market?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
