Chainlink Posts “First Death Cross” Seen Since 2018 Against Bitcoin Pair
Chainlink has seen some mixed price action as of late, with bulls unable to gain a decisive edge over bears as the entire market turns lower. LINK isn’t the only cryptocurrency that has been struggling to gain any bull-favoring momentum, as most other cryptocurrencies have also seen some intense selling pressure that has slowed their […]
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LINK, the native token of Chainlink, is beginning to recover after seeing a major drop against Bitcoin. The price of LINK, the native cryptocurrency of Chainlink, has increased by 10% in the past three days with the recovery coming despite a “death cross” on the LINK/BTC chart.Josh Olszewicz, a cryptocurrency trader and technical analyst, said the LINK/BTC chart encountered its first death cross since 2018.What is the death cross and why is LINK seeing a relief rally?In technical analysis, the term death cross is a candle chart formation that occurs typically before a large selloff. It....
Even as the bitcoin price jumps against favorable macro fundamentals, a chartist sees the cryptocurrency moving downwards in the coming sessions. The pseudonymous analyst pitched a highly bearish scenario for BTC/USD on Monday. He envisioned that the pair’s 50-day moving average would close below its 100-day moving average, leading to the formation of a so-called “Bear Cross” – also known as ‘Death Cross’ among financial pundits. Traders typically perceive Death Crosses as a sign of […]
Bitcoin is on the verge of painting a Death Cross. The technical chart pattern–which forms after an asset’s short-term moving average closes below its long-term moving average–holds credibility for predicting bearish markets. In the stock market crash of 2008, for instance, many investors credited Death Cross for limiting their losses. The same scenario is now brewing on the Bitcoin daily chart, wherein the cryptocurrency’s 50-day moving average (50-DMA) is itching to drop below its 100-day […]
Bitcoin is days from printing another daily “death cross” — the 50-day simple moving average slipping beneath the 200-day — but analyst Kevin (Kev Capital TA) argues the label misleads more than it informs. In a November 12 video breakdown titled “BTC Daily Death Cross — How It Works And What To Expect,” he contends that every daily death cross of this cycle has coincided with the late stages — and, in practice, the lows — of multi-month corrective phases. “Don’t fall for the posts that say, ‘Oh my god, death cross on the daily, we’re going down 80%.’ That’s not how these have played out,”....
Many analysts agree that further dips in the Bitcoin market would attract accumulators, primarily investors with a long-term bullish outlook on the cryptocurrency.