The almighty #deathcross has nicely marked two bottoms for #DXY
If you wanna know more about this lagging indicator follow to the thread below as it is not only the case in #Bitcoin 👇
If you wanna know more about this lagging indicator follow to the thread below as it is not only the case in #Bitcoin 👇
https://twitter.com/jackis_trader/status/1406230042728873984
It doesn't stop there the #deathcross also marked close to the bottom of the 08 financial crisis.
The last Weekly #deathcross to this day has also marked the bottom of the #Apple stock price in 01 followed by a 42000% rally
The last #deathcross of #Apple stock price on the Daily chart is on Dec 18. Marked the bottom followed by a 250% rally.
As you can see #deathcross doesn't hold much importance. There are times when price indeed follows more down and there are times it marks the bottom.
It's all about the context and the price itself and the cross more times than not works in the opposite way from my observation
It's all about the context and the price itself and the cross more times than not works in the opposite way from my observation
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