Bitcoin Primed To Repeat Bullish Crossover From Epic 2016 Rally After 8 Years of Wait — Here’s What You Need to Know
Bitcoin ETF hype is currently pushing prices higher, but behind the scenes, a key indicator is flashing bullish with the potential to spark additional gains. After an absence of over 8 years, analysis shows the Bitcoin price is preparing to repeat a rare bullish chart pattern not seen since its epic rally in 2016.
A key moving average crossover is in the works according to popular crypto analyst Moustache, hinting Bitcoin could be on the cusp of major gains. Specifically, on the 3-week timeframe, Bitcoin’s 21-period exponential moving average (EMA) is currently attempting to cross above its 50-period simple moving average (SMA).
#Bitcoin (3W)$BTC is about to make a golden cross in the 21EMA/50SMA.
The last time we saw something like this was almost 8 YEARS ago (2016).
– In addition, the "buy signal" in the super indicator
Watch out for the rare signals.
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