Golden cross could mean Bitcoin’s end will stay below $ 50,000

Bullish Run 2.0 could finally be here as Bitcoin experiences a golden cross. Last week’s price correction had little or no impact on BTC’s specs as it has stayed the same after the slump. The picture shows Bitcoin experiencing a gold cross more than two months after its death cross. The market has responded positively to the news as BTC gains momentum.

Regarding the Death Cross, Coinfomania stated that, given the outcome of previous negative MA interceptions, Bitcoin is sure to decline. How deep BTC will go is a question only time can answer, but the previous Death Cross on the 1-day chart doesn’t seem to have much of an impact on prices. This time cannot be otherwise, as the firstborn coin can drop below $ 30,000 before recovery.

As predicted, BTC fell below $ 30,000 but hit the mark at $ 28,000. The price recovery was not as fast as many expected. Nonetheless, the largest cryptocurrency by market capitalization also improved in several areas. One such area is the moving average. MA was an indicator that predicted the death cross. Now the 50-day MA has caught the 200-days in an upward trend; indicates the golden cross.

Here are the main levels to watch

With the Fibonacci retracement we can create price channels. The current channel that BTC trades on has coin trading between $ 42,500 and $ 51,000. This means that the strongest support on this channel is $ 42,500. If BTC does not continue on its upward trend and stays above $ 42,000, it will fall back onto the $ 42,500 and $ 37,000 channel.

A rally in the market will cause the coin to rise above $ 51,000. This will help BTC leave its current channel and move higher into the next price limits. This can guarantee that BTC will hit up to $ 60,000. After this level, we may expect a new all-time high.

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