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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
Bitcoin Price Prediction: BTC Nears $43,000 Amid Core Scientific Bankruptcy, Bukele Reelection & Grayscale ETF News cryptonews.com /10 months ago
Bitcoin Price Could Surge to $170,000 on Spot ETFs and Halving Event, Says SkyBridge’s Anthony Scaramucci cryptonews.com /10 months ago
Bitcoin Price Prediction as Greed Index Hits Neutral Post-ETF Launch – Are Investors Losing Confidence? cryptonews.com /10 months ago
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