Bitcoin $BTC price prints this pattern for the first time in history, CryptoJelleNL foresees rally incoming Bitcoin
The situation when the"short-term" MA line crosses the"long-term" one from the bottom is called a"Golden Cross" and is typically translated as a strong bullish indicator. It only occurs when the number of Bitcoin bulls grows quickly.For these particular metrics , this is the first example of a"Golden Cross" over Bitcoin's history, @CryptoJelleNL insists.
However, the most reliable one, the"classic Golden Cross" with 50MA / 200MA might not be registered for some time. That is why Bitcoin bulls should not overestimate the influence of"small crosses." As of printing time, Bitcoin is changing hands at $27,183 on major spot exchanges. Its price gained 0.83% in the last 24 hours. Alternative's Fear and Greed Index is sitting in the"Neutral" zone at 53/100.
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