Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Bitcoin Price Charts ‘Death Cross’ In First Since 2014

Published 11/14/2018, 07:00 AM
Updated 11/14/2018, 07:45 AM
© Reuters.

Bitcoin's (BTC) price woes may not be over just yet, as a key technical indicator is about to turn bearish for the first time in four years.

On the three-day chart, the 50-candle simple moving average (SMA) looks set to cut the 200-candle SMA from above, confirming what is popularly known as the "death cross." This specific bearish crossover was last seen in December 2014.

The onset of a death cross can be a warning that a bear market is looming, according to technical theory. In reality, however, it is the result of a prolonged bear market – i.e., it's a backward-looking indicator. As a result, the oversold market usually sees a bounce after a bearish crossover is confirmed.

Continue Reading on CoinDesk

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.