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Steve
@stevebeachy
Bitcoin could be just days away from forming a golden cross ! What is a golden cross, and what does it mean for the price of bitcoin ? 🤔 A golden cross is a bullish technical pattern where the 50-day Simple Moving Average (SMA) crosses above the 200-day SMA indicating that short term momentum is outweighing long term trends. Previous golden crosses in Bitcoin have been followed by substantial price increases. For example, a golden cross in October 2023 was followed by a 45% rally, while a similar pattern in September 2021 saw 50% gains. Although a golden cross is a bullish technical indicator, there is the possibility that it could be short lived, consolidate and trade sideways, or possibly continue on to make a new all time high. With an increasing M2 money supply and tensions cooling between the US and China, my guess is that bitcoin price will move higher and print a new all time high. What do you think bitcoins next move will be ?
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Silver Queen
@sq567
Thanks for sharing 🙏🌹🫶
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Steve
@stevebeachy
🥰❤️
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