The main bullish artistic event is about to play with Bitcoin (BTC) can put the coin on a long -term upward path. Benjamin Queen, a prominent analyst, High The golden bitcoin cross will be formed soon, with the possibility of prices.
Bitcoin Golden Cross signals on the horizon of the bull
Historically, golden crosses appear in Bitcoin just before the main gatherings, which leave investors with huge gains.
It is worth noting that the golden cross is formed when a short -term average moving over the average moving in the long run. This upscale signal often indicates a long -term increase in prices and market strength.
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Queen says this golden cross should happen within a few days, indicating that the direction of bitcoin can lead to this bullish intersection on the plans. This was the pattern in previous market courses.
Despite this optimism, Quinn warns that short -term decline may occur. In previous scenarios, liquidity sometimes affected the major price attacks, not only technical indicators such as the Golden Cross.
As of the time of the press, Bitcoin was Hand change At 105175.08 dollars, an increase of 2.05 % in the past 24 hours. The currency reached its climax at 106,814.18 dollars in the previous trading.
However, the trading volume decreased by 12.89 % to $ 55.69 billion in this time frame. Some of the bearers may have decided to sell and make a profit of $ 106,000.
Home price levels: resistance of 108 thousand dollars and support 100 thousand dollars
Bitcoin is likely to pay a target of $ 120,000 if Golden Cross confirms the upward trend and investors are not disposed of in the market.
The currency should overcome resistance areas from $ 106,000 to $ 108,000 to climb. Successful climbing over this area can lead to outbreak.
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If Bitcoin suffers from rejection of $ 108,000 and failed to reach $ 110,000, this may lead to a retreat from all the gains of the previous week. Bitcoin can slip towards the psychological level of $ 100,000.
Prices are largely dependent on the market participants’ reaction to the high prices in the coming days. However, the strong Bitcoin lawyer, Samson Mww, believes that Bitcoin is in an absolutely high season.
