Deathcross trade
Updated
I've been tracking this since the BTC death cross occurred and while I know this is too late for anyone to make any profitable decisions it is worth making a note for the future. You can verify the 50 and 200MA death crosses yourself but the probability of BTC going back to 200MA is very high (only failed once in Sept 2014). Currently my safe target would be 48k. Why am I showing then the TOTAL crypto mcap chart? Well as you know other digital assets will not move up unless BTC is going up (in most cases as some directly impacting news can move an altcoin despite BTC moving down) and watching both TOTAL,TOTAL2 and BTC charts can give you a better view of the whole crypto market (add BTC.D to the mix). We are still around 10% off the minimum target and while macro outlook isn't great if it is to play out as expected based on past performance it is most likely going to happen over the next couple of weeks.
If we drop lower and make new lower low then lower high this death cross trade will be treated as failed setup.
Either way as mentioned before worth adding this to your trading setup arsenal (watch BTC and TOTAL charts on Daily only and you can then make bullish decisions on other crypto of interest)
If we drop lower and make new lower low then lower high this death cross trade will be treated as failed setup.
Either way as mentioned before worth adding this to your trading setup arsenal (watch BTC and TOTAL charts on Daily only and you can then make bullish decisions on other crypto of interest)
Trade closed: target reached
War in Ukraine meant it took a bit longer, neverthless this an other deathcross trade on BTC at 48k hit. Can wait for a return to down trend now and cheaper prices
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