Hello to all traders, after yesterday's night sale and liquidation of Long position, it is becoming more and more obvious who is dealing cards in this game. On the other hand, in the circumstances of recent declines, a rare upward signal for BTC appeared on the chart. The Bitcoin 50-day moving average exceeded the 200-day moving average.
This is a rare phenomenon that is commonly referred to as the "golden cross". This is historically a bullish signal that takes into account the two most commonly used moving averages. The last time such a cross between moving averages took place on April 22, 2019, the BTC price increased in June to around $ 14,000 - about 60 days after the golden cross. This meant an increase of almost 165% in that period. The math is simple. Let's start with the start of the current increases, i.e. the level of 9750 $. If history repeats itself and the golden cross causes a price increase, an increase of 165% will cause the BTC to reach around $ 26,000 by the end of April 2020. Interestingly, this happens immediately before the start of halving on the Bitcoin network, which will take place in May
Time will tell :)
Regards
This is a rare phenomenon that is commonly referred to as the "golden cross". This is historically a bullish signal that takes into account the two most commonly used moving averages. The last time such a cross between moving averages took place on April 22, 2019, the BTC price increased in June to around $ 14,000 - about 60 days after the golden cross. This meant an increase of almost 165% in that period. The math is simple. Let's start with the start of the current increases, i.e. the level of 9750 $. If history repeats itself and the golden cross causes a price increase, an increase of 165% will cause the BTC to reach around $ 26,000 by the end of April 2020. Interestingly, this happens immediately before the start of halving on the Bitcoin network, which will take place in May
Time will tell :)
Regards
