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Bitcoin Price Marks First-Ever “Golden Cross” During ETF Hype
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Bitcoin (BTC) just flashed an ultra-bullish technical indicator called the “golden cross” for the first time ever on its weekly price chart.
A golden cross occurs when a short-term moving average of an asset’s price crosses above a long-term moving average. Market participants often interpret this pattern as a sign of an oncoming bull market after a long bearish trading period.
In this case, Bitcoin’s 50-week moving average (WMA) has crossed above its 200-week moving average.
JUST IN: #Bitcoin made a 'Golden Cross' for the first time in its history, with the 50 week MA crossing over the 200 week MA.
Bullish!
Read more on cryptonews.comAbout this in other media
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Bitcoin Price Prediction as Greed Index Hits Neutral Post-ETF Launch – Are Investors Losing Confidence? cryptonews.com /9 months ago
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