Golden Cross coming for Bitcoin?
Today we are going to focus on the Bitcoin chart but on the long term perspective. For that, we are going to focus on the trends and why are going to use the MA's (Moving Averages). To be precise, two of the most common and more widely used, the MA 50 and the MA200.
The 50/200-day simple moving average is a trendline that shows the average of 50/200 days of closing prices for a stock, plotted over time.They are really useful to project changes on the trend. The crosses among them are even more relevant to identify those reversals in advance.
As you can see back in early January of 202 we had a cross down of the MA 50 with the 200. This is called Death Cross:
📍 The "death cross" is a market chart pattern reflecting recent price weakness.
It refers to the drop of a short-term moving
average—meaning the average of recent closing prices for a coin,
stock index, commodity or cryptocurrency over a set period of time—below a longer-term moving average.
The most closely watched crypto-market moving averages are the 50-day and the 200-day.
It indeed signaled a long and steady downtrend from $50,000 back then to $16,000. But now, after more than one year...the MA50 is getting closer and closer for the cross upwards...if happens, this would be called: Golden Cross.
📍 A "golden cross" is a technical chart pattern indicating the potential for a major rally.
As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.
Let's keep an eye on it, because this would signal the bull trend reversal we have been waiting for.
The 50/200-day simple moving average is a trendline that shows the average of 50/200 days of closing prices for a stock, plotted over time.They are really useful to project changes on the trend. The crosses among them are even more relevant to identify those reversals in advance.
As you can see back in early January of 202 we had a cross down of the MA 50 with the 200. This is called Death Cross:
📍 The "death cross" is a market chart pattern reflecting recent price weakness.
It refers to the drop of a short-term moving
average—meaning the average of recent closing prices for a coin,
stock index, commodity or cryptocurrency over a set period of time—below a longer-term moving average.
The most closely watched crypto-market moving averages are the 50-day and the 200-day.
It indeed signaled a long and steady downtrend from $50,000 back then to $16,000. But now, after more than one year...the MA50 is getting closer and closer for the cross upwards...if happens, this would be called: Golden Cross.
📍 A "golden cross" is a technical chart pattern indicating the potential for a major rally.
As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.
Let's keep an eye on it, because this would signal the bull trend reversal we have been waiting for.
Crypto Rand
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