Get started

Deathcross

BTCUSD going DOWN: Double Top on BitCoin...Just like March 2018!There's been a big sympathetic bullish move on BTCUSD recently, very likely related to the move on FB to legitimize cryptocurrency with Libra. It's kind of ironic, because near total control by a massive corporation like FB of a cryptocurrency pretty much goes against the very basic fundamental idea of what an ideal cryptocurrency should be: A form of digital exchange for the masses that isn't beholden to anybody, especially a major company or corporation. But the point is, when a big name like FB gets involved, crypto investors start seeing $$$$$ signs, and a sympathetic bullish move on BTCUSD (and actually ANY other crypto) was totally predictable once the announcement on Libra came out. The bullish BTCUSD move was clearly too much too fast, and Trump/Munchin's recent negative tweets and threats of governmental oversight put a big block/resistance (at around $13500) to a near repeat of a parabolic move from the 2018-2019 lows of BTCUSD of $3000 Forget the fundamentals for a second, from a strict technicals standpoint, the BTCUSD chart is showing very ominous signs of breaking down. We clearly see a formation of a #doubletop, which is a very bearish sign. I should point out this #doubletop also occurred during March 2018, after the initial January 2018 breakdown that led to the recent downtrend and lows of BTCUSD. In addition, you can see (circled on the daily chart) the formation of a #deathcross on the Moving Average Crossover indicator as WELL as a negative/downward bearish move on the MACD Crossover indicator. About the only thing that is positive is the RSI indicator, which seems to temporarily indicate that we are in an oversold period that could lead to a temporary small buy-back. My thesis? Simply put: BTCUSD is going to clearly break down even further, down to $6000 or even $5000, although the first level of support is around $7500. There MAY be a brief buyback period first before the big breakdown, but unless BTCUSD makes a strong move above the resistance of the double top around $13500, it's unlikely to last. Therefore, I would say now is a HORRIBLE time to buy BTCUSD, and if for some reason you were lucky enough to buy it down at the lows of 2018-2019, you should probably take some of the table and lock in your profits now. I definitely would not add to any BTCUSD position until the $7500 support line holds OR the top/resistance of the double top is breached and that breach holds. If the $7500 level breaks, again we could easily see lows on BTCUSD of $6000, or $5000. Or in a very bearish environment back down to the lows of $3000. Don't believe me? Maybe I'm wrong...I'm just looking at technical patterns, and have no position/skin in the game. But I want to point out that back in December 2018 (see link below), I was able to predict/call the top of BTCUSD looking at a clear Descending Triangle chart pattern that was about to break down. Let's see if I'm right again...My prediction is the strong move downward will occur very soon, likely before the middle of August 2019. Hold on to your hats, crypto boys and girls! P.S. That guy, Peter Brandy, who thinks BTCUSD is going to hit $100000/Bitcoin soon is clearly high as Snoop Dogg at a marijuana dispensary Black Friday sale ...At least for the short-term future! :P
COINBASE:BTCUSDShort
by thetravelingbachelor
Possibility of a doubletop in play; if triggered 6k target. a large price dump that was instigated by a 3hr chart deathcross has us now potentially about to break down from what looks like a double top on the 1 day chart...price action is currently below the neckline and is right now trying to retest that neckline...if the retest is rejected then odds are good we will break down from the double top and retest the 1 day 200ma down at 6k. However I wouldn't be sure of a rejection until at least 1-2 1day confirmation candles + bearish volume surge to go with it...we are also currently testing the breakdown of a 1hr bear flag pattern which could dip to 8.6k. If we go to 8.6k odds are very good we will be filling the 8.5k gap from the CME futures chart....whether or not we'd reach the full dip target of the double top of 6k is uncertain considering there is also the famous "golden pocket" on the fib retracement right at 7.2 which we also had a small gap on on the cme futures charts....so dipping to the 7.2k zone would fill the final gap below us and reach that always magical bounce level of 61.8%. We can see the 8.5 level also hits a very significant fib line as well as it has confluence with the 50% retracement line. So we may see bounces at both of these zones or support for candle closes. However 6k is also a possibility because of the double top which also has confluence being double reinforced support with the 1 day charts 200ma which should provide solid support. My move is going to be to wait for price action to retest the yellow neckline of the double bottom and if the daily candles confirm solidified resistance I'm then going to short and ladder out portions at a time at a couple pips above 8.6, 8.5, 7.2, and 6.1k respectively...until I get the confirmation of resistance/rejection at the neckline however I remain neutral for now...with slight bias temporarily to the downside. During this downtrend we may see some altcoins make gains against btc such as xrp. I also believe that when this correction is over the next leg up bitcoin will be taking alt coins with it and they may even lead the 2nd leg up. I think the next temporary leg down on btc will coincide with a 4day deathcross and the next significant longterm leg up will coincide with a 3 day golden cross.
COINBASE:BTCUSD
by DrDovetail
2
SPX DownTrend to Correction OR Crash; Oil/Gold Divergence!Looks like a crash setup. Powerful bearish divergence in oil - dropping while gold rockets. Last seen this divergence in 2000, 2008 just weeks before the crashes. Probably not a good idea to sell puts short right now... Fool's rally going for a day or two; if we see a pinbar that would be identical confirmation pattern we saw in Aug 2008. Rally could get as high as 26200 Dow, near 2880 SPX; or just get rejected from the down channel TL. Getting long in here is pretty risky. Scalp if you dare! GLTA! MW Article: www.marketwatch.com The Chart of Divergence: ei.marketwatch.com
SP:SPXShort
by DaddySawbucks
3
Very Simple Chart Patterns Showing Downward Intel MovementThe ongoing trade-war with China is proving unfruitful for most tech assets, especially chip/semiconductor suppliers, including NASDAQ:QCOM and NASDAQ:INTC . Aside from these fundamental negatives, the hourly chart reveals several very simple, basic patterns that provide further confirmation of such bearish sentiment. There are two consolidation-breakout points, both leading to major gaps and spikes in short volume. The death cross, in between, is the cross of the 65-period Exponential Moving Average under the 200, a very strong sell signal. Additionally, the unusually large number of gaps is a sign of volatility and growth-instability. Traders and investors alike are bearish on NASDAQ:INTC due not only to fundamentals but the simple technical indicators and patterns shown on the hourly chart.
NASDAQ:INTCShort
by DoozyTrader
Potential death cross on HKSE 700 (Tencent) in formation 1. Would be extremely cautious as death cross forming with EMA20 and 50 crossing EMA200. Possibly around price of HK$350 in coming 2-3 trading days. 2. Oversold now but remains to see if rebound can support at $330 will hold. 3. Price has already retraced to 50% of run up to HK$480. 4. Would not enter until we see support hold at either HK$325 / HK$300 (higher probability) confirmation. Or some low chance of price falling until strong resistance at HK$260, erasing all gains. HKEX:700
HKEX:700Short
by nyank1t
ltcbtc chart at a cross roads.We can see LTC had a very ncie pump against btc after its ltcbtc golden cross occurred on the daily....it has since corrected and appears like it may have a chance at triggering a cup and handle pattern...however the threat of a 1 day ltcbtc death cross quickly approaches. If the death cross is to materialize this cup and handle pattern will most likely fail...and on the flipside validating this cup and handle pattern could help prevent the death cross...so for now against btc ltc is at a cross roads and could easily continue either way, For this reason this idea will remain neutral.
by DrDovetail
1
TRXBTC not looking as bullish as TRXUSDIt appears we will bullishly trigger/break an adam and we've double bottom pattern on the daily on the trxbtc chart however we must keep in mind tha since we recently had a deathcross on this chart more losses against btc are anticipated after it hits its breakout target. I assume it will get rejected back down from the 1day 200ma resistance and be bounced back and forth between it and the 1 day 50ma(in orange) as support a couple times before breaking under and hopefully forming a higher low...if it ends up forming a lower low more loss against btcs value at that time will be probable. I do see it likely it can reach the breakout target in the meantime however. If somehow it continues up then we may have a deathcross fakeout on our hands which given the current overall sentiment of the crypto market in generally is much more probable than it would normally be. until we see evidence of a death cross fake out though we must put the downside as probabilities preference. My guess is a quick typical tron pump and dump due to an announcement of an announcement from Justin Sun. It can be a rewarding ride though if you time your entrance and exit right. *not financial advice* Thanks for reading.
by DrDovetail
Exxon Mobile (XOM) Trend Analysis: Bearish SentimentI am predicting that Exxon Mobile will have further bearish movement, due to a few sequential chart patterns appearing. First, the death cross. At this point, the 65 period EMA closed below the 200 period moving average, an extremely strong sign of negative movement. The confirmed resulting downtrend resulted in a period of consolidation. When price action leads to consolidation for an extended period of time, it usually leads to a large breakout, highly indicative of the overall price movements for a given period of time. XOM consolidated and broke out downwards, beginning to correct itself. A quick correction with high volume formed a resistance level. If all holds, XOM has more volatility and downtrending in its future before it has a reversal.
NYSE:XOMShort
by DoozyTrader
BTC which way will you go?Hi, We can see BTC/USD has broken it's symmetrical triangle to breakout of the long term downtrend. it has now created a bull flag or ascending triangle. As we know BTC is great at painting pictures and then going the other way. If it breaks up and runs whole length of the flag pole we are looking at it breaking back into the previous resistance area, if it breaks down with one of its famous Bart Simpson fractals (possible double top inside the ascending triangle to watch also) and also runs the length of the flag pole we are back down into the previous support area. note the Golden Cross looking to happen on the daily chart, yes this is a great bullish sign but does most certainly not mean that it will sky rocket to the moon. many times after a massive downtrends will indexes, stocks and alt coins cross back with a Death Cross only to rally slowly in the upward direction to show strength and long term rigidity. up to you. not advice just an opinion. enjoy the charts, Boo Cha.
BITFINEX:BTCUSD
by boocha
Golden cross is very near! Good sign for BTC overall!Hello crypto traders and hodlers, i have a great info for each of you :) The golden cross is really near and this means we turning the trend longterm in the bullish direction! This doesn´t mean that the price would never go more down, it´s more than likely that we generate a double bottom (near 3.100, +/- 500 USD). So if you want to go for the longterm hold like me, the next few weeks, maybe 1-2 month could be the very last chance to buy cheap bitcoin. No financial advise! Hope you doing well so far, it was a long way to the downside, many of you would lost some hope, but i think there is a so bright future in front of us :) If you want to see my longterm prediction, visit my other charts. Greetings and wish you all good luck!
BITFINEX:BTCUSDLong
by Crypto-Coin-Trader
7
Death CrossThe death cross occurs when a short-term moving average crosses over a major long-term moving average to the downside and is interpreted by analysts and traders as signaling a definitive bear turn in a market. The death cross is a technical chart pattern indicating the potential for a major selloff. The death cross appears on a chart when a stock’s short-term moving average crosses below its long-term moving average. The death cross indicator has proven to be a reliable predictor of some of the most severe bear markets of the past century: 1929, 1938, 1974, and 2008 As we can see it occured in 2008 aswell and the chart and other indicators (RSI and stoch RSI, but also ichimoku cloud and few others) are almost indenticial to when the crash in 2008 happened. The AEX will take a big hit and may fall to 0.786 fib. level and perhaps lower.
EURONEXT:AEXShort
by Decrazer
2