Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Cryptocrit on March 14, 2024, 10:15:47 AM
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Technical analysts are keeping a close eye on Bitcoin after it formed its first-ever "golden cross" pattern, which is often seen as a bullish signal
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In the world of finance, technical analysts play a crucial role in forecasting the future movements of assets like Bitcoin. Recently, Bitcoin has caught the attention of these analysts due to the formation of its first-ever 'golden cross' pattern. Let's delve into what this means and its potential implications.
Technical analysts are individuals who analyze historical price data and charts to make predictions about future price movements. They utilize various tools and indicators to spot patterns that may indicate potential trends in the market. One such pattern is the 'golden cross.'
The golden cross is a specific chart pattern formed by two moving averages (MAs) - a short-term MA and a long-term MA. When the short-term MA crosses above the long-term MA, it's termed a golden cross. Traditionally, this crossover is interpreted as a bullish signal, suggesting a possible uptrend in the asset's price over the long term.
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https://www.cryptocrit.xyz/2024/03/bitcoins-first-ever-golden-cross.html (https://www.cryptocrit.xyz/2024/03/bitcoins-first-ever-golden-cross.html)
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You are sharing this news quite late, but I still appreciate the efforts as I did now know about the golden cross as I am not a technical trader, but thanks to your post that adds more to my knowledge, well upon further research I found that BTC made golden cross back in January 2024. So, that's why I said you are quite late in sharing this news.
Well, at that time this knowledge would have added more confident to the newbies and existing investors but at that time, most of the people were looking only at ETF's impact on BTC which was also late as we are seeing the result now after 2+ months.
You should also mention in the thread that how long is short term MA and Long term MA, Which According to some articles is 50 day for SMA and 200 day for LMA
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I have read this golden cross for a very long time. It's just now that I have read it again with your post. This is a good sign of what the market would give and of course, the application of what Bitcoin could give with every user or HOLDer can give about it.
I do hope that it really give the results that we want.