On 1 hour candle chart we can see 50 and 200 days moving averages. Now they crossed each other and created death cross. This sign usually means some time of bearish market
This is my first chart on Tradingview. I have bought my first crypto just few weeks ago. Now I'm learning a lot about the digital currencies and especially technical analysis. I'm trying to create my own style based on tips from magazines and from the other users aswell.
The 1 day candle (Coinbase) MACD just developed a death cross as well. Seeing more bearish movement in the coming days...Is it any coincidence that futures contracts are expiring soon?
GasHead
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@jfabian528, No coincidence at all I fear.
midzimu
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@jfabian528, what do u mean expire? are the settled soon?
takaratengu
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@midzimu, Bitcoin future contracts were entered into on the 18th of December @ 20k, When the Market was severly overbought. Mums and Dads money was guessing it would go higher (optimism bias) Institutional investors saw it as an amazing chance to short. Do not expect BTC to rise before the 18th of January. Then instituational investors will pump it. IMHO
@Harvester2000 your written English is better than a large section of native English speakers! Thanks for your analysis. Definitely something to watch.