Bitcoin Just Formed a Golden Cross
And faith is restored in a bull run. But wait, we here have always had faith – at least speaking for myself!
Bitcoin Just Formed a Golden Cross, Restoring Faith in A Crypto Bull Run
“The rally has also caused Bitcoin to form a golden cross of the 50-day moving average and the 100-day moving average. A golden cross is a powerfully bullish signal that tells investors that the asset is healthy and may be primed for an extended uptrend in the days ahead.
A golden cross occurs when a short term moving average like the 50-day moving average, rises above a longer-term moving average like the 100-day or 200-day moving average, for example.
The longer the timeframe the moving average, the more significant the cross is. This suggests that although the current golden cross of the 50-day moving average and the 100-day moving average, while extremely significant, doesn’t hold as much weight with investors as it would if Bitcoin crossed the 50-day moving average above the 200-day moving average.”