Bitcoin Golden Cross On Horizon: What You Need to Know
Possible Bullish Trend Ahead for Bitcoin in Next 24 Hours?
Let's cut the bullshit and get to the point. Bitcoin is primed to trigger a golden cross, a bullish indicator in the trading world, within the next 24 to 48 hours. After its mind-bending surge above $90,000, Bitcoin has been holding steady, even if the price action is a tad flat. As of now, it's trading at around $94,900.
Here's the deal: Bitcoin is hanging out just below key resistance levels, but don't get your tits in a twist; the momentum ain't dead yet. The 100 EMA is still hanging above the 50 EMA, which is hovering around $88,395 (just a bit above the current price). The interesting part is the 50-day EMA and the 100-day EMA are almost touching. Since Bitcoin is holding strong, you can bet your last dollar that the crossing is going to happen real soon.
Once the 50 EMA crosses above the 100 EMA, we're looking at a traditional medium-to-long-term bullish confirmation. Institutional authorities and swing traders pay close attention to golden crosses because it often leads to a resurgence in momentum as confidence soars. Bitcoin can keep rising without getting overextended as long as the volume remains consistent and the RSI stays close to 67.
Legendary Trader Bollinger Sounds Alarm Over Crypto ScammersBTC's Golden Cross: Is It the Real Deal and What to ExpectAre XRP's Volatility Levels About to Explode? Ethereum's Recovery: Legit or Not?Saylor's Strategy Reports $5.8B Bitcoin Gain in Q1, Announces $84B PlanXRP Bounces Back with 4.98% April Rally After Three-Month SlumpMysterious $373 Million Bitcoin Shift Astounds Crypto Market
Now, there's a tiny hesitation shown in the consolidation below the 100 EMA. For the golden cross to happen, the price needs to stay above $90,000. If Bitcoin takes a deeper dive towards $88,000, it could weaken or delay the crossover. In the future, the psychological thresholds of $100,000 and $98,000 are the next resistance levels if the golden cross is confirmed and Bitcoin maintains its strength above $95,000.
A push to six figures might not be a stretch in the upcoming weeks if buyers step in after the cross. All in all, a significant technical confirmation for Bitcoin is just around the corner. If the golden cross pans out as expected, this market may be gearing up for another leg up.
#Bitcoin
The Golden Cross: A Closer Look
When a shorter-term moving average crosses above a longer-term moving average, it's called a golden cross. Historically, this has been seen as a potential shift from bearish to bullish market sentiment, although its reliability in cryptocurrency markets is a subject of debate due to heightened volatility compared to traditional assets.
Implications
- Market Psychology
- Bullish Boost: The crossover often attracts trend-following traders, magnifying buying pressure and creating a self-fulfilling prophecy[2][5].
- Sentiment Shift: It’s perceived as a validation of recovery, particularly after prolonged downturns[2].
- Current Scenario Bitcoin's 2021 price action has resulted in a distorted EMA structure, with the 100-day EMA above both the 50-day and 200-day EMAs, unlike typical golden cross setups. This reflects the market's rapid rebound from recent lows and lingering volatility[2]. Analysts suggest a "true" golden cross could materialize in weeks if Bitcoin sustains above $90,000, aligning EMAs organically[2].
- Practical Impact
- Inflows: A confirmed crossover might trigger institutional and algorithmic buying, amplifying upward momentum[2][5].
- Caution: False signals are common in crypto; traders often wait for volume confirmation to avoid getting caught in “bull traps”[5][2].
In sum, while the golden cross serves as a psychological boost for bullish behavior, its predictive power depends on broader market conditions and supplementary indicators[5][2][4].
- The upcoming Bitcoin golden cross, a significant technical event, is expected within the next 24 to 48 hours, with the 50 EMA about to cross above the 100 EMA.
- The psychological thresholds of $100,000 and $98,000 could be potential resistance levels if the golden cross is confirmed and Bitcoin maintains its strength above $95,000.
- If the golden cross pans out as expected, it may attract trend-following traders and magnify buying pressure, potentially creating a self-fulfilling prophecy.
- The distorted EMA structure in Bitcoin's 2021 price action, with the 100-day EMA above both the 50-day and 200-day EMAs, reflects the market's rapid rebound from recent lows and lingering volatility.
- To confirm the authenticity of the golden cross and avoid getting caught in "bull traps", traders often wait for volume confirmation.
