Bitcoin Golden Cross - Bullish Move to $33,000

The 50-day moving average just crossed above the 200-day moving average, a popular bullish signal in the crypto and financial trading world. Bitcoin dropped back to the $22k area (zone of the cross) and found pretty healthy support, from which it bounced back up strongly and made for the $25k mark.

$25k proved a stronger resistance than the bulls previously, though. Now letting out some steam, the bulls (or, shall I say, 'the manipulators') are gearing up for another try at the 25k resistance.

Remember that this is a long forecast on BTC, but it is short-term. A sharp spike upwards to $33k, then a flash crash to less than $0.1 and back up to $10k is expected soon (purely off the charts). Fundamentals aside, the strong support provided by the 50-day EMA will give Bitcoin bulls the extra juice they need to break up over $25k.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.