The Litecoin LTCUSD pair is already flashing overcrowded with the 50 day moving average headed towards passing over the 200 day moving average.While most moving averages point to upward momentum, the dreaded "death cross" is a more longer-term pattern all traders should keep an eye out for.
That's a golden cross. You are backwards. Although there is often a short dip at the golden cross to re-test the 200, it is extremely bullish overall. Death cross is when long term goes below short term.
WhiskeyTangoFoxtrot3
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@ThinkNauts, ah mix up in terminology. Looks like this particular moving average signal points to upward trend, but overall philosophy on cryptos still stands
urbanknight
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This is a golden cross not a death cross
WhiskeyTangoFoxtrot3
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@urbanknight, ah mix up in terminology. Looks like this particular moving average signal points to upward trend, but overall philosophy on cryptos still stands
jbutler7
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lol
WhiskeyTangoFoxtrot3
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@jbutler7, ah mix up in terminology. Looks like this particular moving average signal points to upward trend, but overall philosophy on cryptos still stands
jbutler7
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@AnthonyLaurence, If you were short, then a little mix-up like that could cost you lots of money my friend. Stay safe out there.
WhiskeyTangoFoxtrot3
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@jbutler7, if I was short and timed the trade to scalp, I would've made some profits. However, I am not a short-term trader and my long-term philosophy still holds that Litecoin is overpriced, but I appreciate the feedback and won't forget this signal haha
fortunekr
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Muh death cross. Hehehe.
WhiskeyTangoFoxtrot3
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@fortunekr, ah mix up in terminology. Looks like this particular moving average signal points to upward trend, but overall philosophy on cryptos still stands.