Hello to my friends who love life and keep smiling despite all kinds of negativity. In this article, I will talk about Golden Cross and Death Croos, which you rarely see in cryptocurrency charts. I will try to explain it as simply as possible. Let's learn together…
Technical analysis is a statistical analysis that involves evaluating a cryptocurrency using price and volume data. Thanks to this analysis, we try to predict the future performance of the markets, as well as cryptocurrencies.
Golden Cross and Death Cross are especially important for investors who do not trade hourly, daily and want to invest in cryptocurrencies. Golden cross and Death cross are two graphic patterns that are the opposite of each other.
ETHEREUM (ETH)
Golden Cross; When pointing to a forward long-term bullish (uptrend) market
Death Cross; It indicates a long-term bearish (downtrend) market.
EOS
Both are formed by the intersection of the long-term Simple Moving Average (SMA) and the short-term moving average.
The Golden Cross describes a trend transformation that heralds the transition from the Bearish (downtrend) market to the Bullish (uptrend) market. The fact that the 50-day simple moving average cuts the 200-day simple moving average from the bottom to the top and then stays there indicates that the rising market, the bull market, has started.
Death Cross is the opposite of the Golden Cross. It describes a trend transformation that indicates the transition from a Bullish (uptrend) market to a Bearish (downtrend) market.
TRON (TRX)
Important Note; Day traders often use smaller time periods such as 5 and 15 day moving averages to analyze short term golden cross outlooks during the day. They usually take the price range of the charts 4 hours and below.
It would be wrong to say that all the indicators in technical analysis are 100% accurate and these indicators can predict the future 100%. Golden Cross and Death Cross once seen can give a false signal and a trader who makes a short term investment can take a loss as a result of the false signal. Therefore, technical indicators should always be verified with other indicators before starting to invest. If you are curious about my articles about other indicators, you can follow me ...
Important Note; There are three moving averages (SMA, WMA, EMA). I told you about the most used simple moving average. I will cover other moving averages in my next article. Others use professionals. In order to avoid confusion, I have not mentioned it in this article.
LITECOIN (LTC)
In finishing…
You can trade cryptocurrencies without being a professional. The important thing is to know the meaning of the indicators on the graphs you see and to make moves in time. In this and the coming days, I will explain simple but important chart indicators with examples. Don't be afraid to experiment. The small amount you lose today will save the big amount you will lose tomorrow. You cannot buy it with money. This occurs over time. During the bull season, you can catch one or several tokens within thousands of tokens. Keep this in mind; Do not think that you can get different results by doing the same thing… As I always said, listen to everyone, decide for yourself ...
I'm looking forward to your comments. Thanks to your comments, we can shape my next articles together. Let's stay in touch… Take care of yourself so that you and the people around you are happy…
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