RE: Bitcoin Charts First Weekly Golden Cross in 3.5 Years
Bring on the bull run!
Bitcoin Charts First Weekly Golden Cross in 3.5 Years
- Bitcoin’s weekly chart is reporting a bullish golden cross of the 50- and 100-period moving averages. The widely followed, but lagging, indicator may fail to attract buyers as broader market conditions are currently bearish.
- A UTC close above $7,870 is needed to confirm a short-term bullish reversal, according to the daily chart.
- The cryptocurrency risks falling to key support at $7,087, having faced rejection at bearish weekly average resistance during the Asian trading hours.