I believe the main point here is that the Cross uses 2 different EMA and moving averages are lagging indicators. Sometimes they shows the movement that’s already happening and sometimes they shows the movement after it’s already over. Since we’ve been so freaking high in every indicator for long, this cross is actually kinda “meh”. After weeks on 50k+ range a major drop would surely generate the “ominous” cross.
People gotta ask:
Was it useful to predict the dump?
Was it useful for entry/exit point?
Now that we have it, can we be sure of anything?
All it did was to say: “we’re f***ed for now”.
Thank you Captain Obvious, I though the -50% was just a persistent bug…
Sincerely, if someone needs an indicator to show you that shite went down the drain instead of just looking at the graphs, a lot of study is necessary. And yes, we have a great chance to go up, and a lot of new weak hands a feeding the FUD troll. Just take a look at OnChain Analysis and it’s easy to see that whales are buying.
If you panic sell, crypto, or any other volatile asset, is not for you. Go put your money on savings account or similar. People panic selling are the ones to judge when others buy the bottom and suffer with butthurt when it peaks…