BitcoinLong
Btc: Could the Golden Cross send us to ATH?
After a 10% retrace, is there still a chance to start going up from here, or we can expect lower?
1. Golden Cross
The golden cross is a really rare pattern, the last time we saw it was in April 2019!
What to know about a Golden Cross:
- It's a Bullish Pattern;
- It's when the 50 Moving average flip higher than the 200 Moving average;
- In the past the price action showed an increase of over 100%+ after a Golden Cross;
2. Does the last retrace negates it?
In the past just before the flip of the Golden Cross we saw Bitcoin prices dropped by 8 - 11% right before the flip, in our case we dropped about 9.4% here since 10 540!
On the 3d time frame we manage to make a good retrace to the area of the R/S flip, which for me confirms that we are for sure bullish.
On the Weekly & Monthly timeframe indicators are flipping bullish (Macd, Rsi, Volume, Ichimoku) which tells me that investors are starting to notice Bitcoin price action and that we should see Higher High again really soon.
3. Be careful!
Although the market looks amazing on Macro and with that Golden Cross, we saw one time in the past a quick drop after a golden cross (2016), so i recommend to not Fomo and to only invest the amount that you can. Don't expose yourself or your family too much.
Crypto is a great place to make money, but also a great place to lose everything you own.
So stay safe, play the trend and LET'S MAKE SOME PROFITS!
If you want to see my full play you can click on the links below, you'll be re-directed to my privates group!
1. Golden Cross
The golden cross is a really rare pattern, the last time we saw it was in April 2019!
What to know about a Golden Cross:
- It's a Bullish Pattern;
- It's when the 50 Moving average flip higher than the 200 Moving average;
- In the past the price action showed an increase of over 100%+ after a Golden Cross;
2. Does the last retrace negates it?
In the past just before the flip of the Golden Cross we saw Bitcoin prices dropped by 8 - 11% right before the flip, in our case we dropped about 9.4% here since 10 540!
On the 3d time frame we manage to make a good retrace to the area of the R/S flip, which for me confirms that we are for sure bullish.
On the Weekly & Monthly timeframe indicators are flipping bullish (Macd, Rsi, Volume, Ichimoku) which tells me that investors are starting to notice Bitcoin price action and that we should see Higher High again really soon.
3. Be careful!
Although the market looks amazing on Macro and with that Golden Cross, we saw one time in the past a quick drop after a golden cross (2016), so i recommend to not Fomo and to only invest the amount that you can. Don't expose yourself or your family too much.
Crypto is a great place to make money, but also a great place to lose everything you own.
So stay safe, play the trend and LET'S MAKE SOME PROFITS!
If you want to see my full play you can click on the links below, you'll be re-directed to my privates group!
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