Quote from: dragonvslinux on November 01, 2019, 03:17:23 PM

I think this "death cross" (I prefer the phrase bear cross, it's less suggestive) could go a number of different ways, as history shows us. Even if the likelihood is continued bearish price movement. I was initially anticipating a possible second wave pump to $12,000 by the end of the month, as twice before price has rallied hard into the bear cross, but now it's starting to look like the price will roll over again back the 200 & 50 Day MA's if bullish momentum doesn't have a comeback.

Why so bearish? Everything about this consolidation screams "bull pennant" to me:

Daily death crosses tend to coincide with massive bounces, at least in BTC. There was April 2014, September 2015, April 2018. My gut tells me this move isn't done yet, even if I'm wrong about the overall bull market. $12,000 still beckons.