Bitcoin pulls back as another golden cross fails to deliver
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12 Articles
Bitcoin pulls back as another golden cross fails to deliver
While the "golden cross" pattern, considered technically positive in Bitcoin, remained valid only for a short time, the rapidly rising expectations of a Fed interest rate hike increased pressure on the cryptocurrency market. Bitcoin (BTC) rose to $79,837 yesterday, causing the 50-day exponential moving average (EMA) on the daily chart to cross above the 200-day EMA. Thus, the upward signal followed in the market was […] Source: Bitcoinsistemi.com
Bitcoin Price Prediction: Golden Cross Vs Fed Rate Hike
Key Insights: Bitcoin price golden cross signals to further gains, but only 3 of 12 past crosses were successful in the long run. Odds of a Fed rate hike rose to 60%, creating a short-term downside risk for Bitcoin. Bitcoin traded around $78,000 on Thursday, down on the day and unable to close...
Bitcoin's Golden Cross Hits $25,000 Floor as Sell-the-News Traders Dominate
Bitcoin dropped to $25,000. That’s the number everyone’s staring at right now, and it came right after a technical setup… Read the original on Bitcoin’s Golden Cross Fizzles as Price Plummets to $25,000. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Bitcoin fell to $77,000 this week following a golden cross where the 50-day moving average crossed the 200-day moving average. This technical formation, considered a harbinger of an uptrend, has often had the opposite effect in the past. The analysis points out that a large portion of the gains occurred before the signal emerged.
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