BTC: Golden Cross Ahead?

in blurt •  last month 

Firstly, let me copy a bit of noise.

For BTC
200SMA = 45900
50SMA = 44600
so they are now very close to another cross-over, like the cross of death back in June.
I wrote then that the cross of death need not be the Nemesis implied by the name as it took place when the price was already at a local bottom.
Death Cross has a twin - the Golden Cross. Now possibly happening next week... so long as the 50SMA holds.
Good times or false dawn?

I'd still hedge this current price. If it bounces up you just lose a bit on the short. Just make sure you calculate your own level of risk/reward.

https://noise.cash/post/1x97qpvw

BTC has been squatting on the 50SMA for the third time in 4 days.
Squat for long enough and you're sure to dump.
Seen this pattern so many times.
Don't tend to see this on the way up - usually 1 or 2 attempts.

https://noise.cash/post/l8vmw0m4

The Bitcoin maximanalists are basically a troll-squad, full of gusto but with only one monotonous message. A flock only needs one shepherd. If you really wish to hold on to your wealth then some form of hedging is wise. This has to be done within whatever budget you have, but there are ways to do this with modest means, such as Binance's BTCDOWN contract. There are a few other DOWN markets for major coins.

The point of a hedge is to make a profit while your holdings are making a loss. This should not be 100%, unless you really wish to lock in your price, for whatever reason. If you set a hedge at, say, 10% then you will make a profit of 10% of your losses.

You're going to lose anyway during a price drop so this just gives you a bit of profit while you hope the price rises. If you get it wrong and your coin rises again, you will lose on the hedge, but as it's only 10% it isn't that much. Indeed, with a decent trading strategy you should close that short with a much smaller loss.

Alternatively, just follow your shepherd.

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