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Thursday, 15 November 2018

Death cross

Crypto conniptions

It was getting boring for a few months there, but finally some price action to awaken the crypto crew from their slumber.

Overnight all cryptocurrencies got hosed, including Ethereum (-15 per cent) and a whole load of others I've never head of (also down about 15 per cent).

The famous death cross technical indicator flashes red when the short-term moving average crosses below the long-term moving average, and indicates the potential for a major sell-off. 

This hasn't happened to the flagship Bitcoin chart since 2014, but a death cross may be imminent.