Main meals:
-
Bitcoin is close to the golden cross, which led to prices from 45 to 60 % in the recent past.
-
The basics such as M2 width and relief of commercial tensions support the upscale view.
-
The declining difference and excessive peak conditions show that there is a risk of BTC drop to less than $ 100,000.
Bitcoin (BTC) may emphasize the “Golden Cross” the daily chart by the end of May, a technical pattern that precedes its occurrence in recent years.
The previous golden crosses led to 45-60 % of BTC prices
As of May 20, the simple moving average of Bitcoin was for 50 days (SMA 50 days; the red wave) looking close to the SMA for 200 days (The Blue Wave) for the first time since October 2024, and forms a golden cross.
Previously, BTC PRICE has gained more than 60 %, with Donald Trump’s re -election as an American president plays a major role.
In October 2023, the Golden Cross followed 45 % of BTC prices, with the help of Bitcoin ETF euphoria. September 2021 has witnessed 50 % gains at the BTC price after a similar SMA script.
Bitcoin’s golden crosses can fail
The use of indicators that have worked in the past is not a guaranteed strategy.
Traders learned that in February 2020, when the Cross Golden Golden of Bitcoin preceded the 62 % collapse, due primarily to the global market march led by Covid-19s.
This episode emphasizes the importance of using golden crosses with technical and wider technical indicators during size in the possibility of unexpected events.
As of now, the Golden Cross coming from Bitcoin is often in line with supportive basics, which puts the sign on the upper side of the professor’s book.
Increase M2 Mode tensions and reduce trade tensions between the United States of China, for example, betting pushed a new record for Bitcoin.
What draws attention this time is that BTC indicates a correction after crossing the RSI index (RSI) over the peak threshold of 70 earlier in May.
Related to: Bitcoin trading in six numbers shows BTC ready to carry “Baton” gold-Fidelity Exec
Therefore, instead of the immediate gathering after the cross, Bitcoin may initially retreat towards SMA support, sitting around the range of 92,400-95,000 dollars from May 20.
The increasing declining difference between the high price of bitcoin and the decrease in the relative strength index enhances the negative side chances in the short term. However, some technical indicators believe that BTC prices gather about $ 150,000 in the coming months.
This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Related Articles
