FieryTrading

🔥 Bitcoin Golden Cross Soon: What Happened Before?

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
It's likely that Bitcoin will soon see a Golden Cross occur. This happens when the 50-day simple moving average (blue) crosses the 200-day simple moving average (yellow) from below. The only way in which this cross will not occur will be if we see a substantial 10%-20% drop again.

The Golden Cross pattern usually signals the start of a new huge bullish move for Bitcoin . Let's take a look at what happened before.


As you can see, the Golden Cross occurred 6 times in the history of Bitcoin . 4/6 times we've seen a substantial move from Bitcoin after the occurrence. Be aware that it has also often happened that Bitcoin went down in the short-term after the Golden Cross.

What's also interesting to see is that the moves after the Golden Cross seem to become less intense. Be aware that we only need a +225% increase to have a $100k per BTC valuation.

Do you think we will get a big bullish move after the Golden Cross? Share your thoughts🔥.

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