Analysis: BTC likely to form golden cross within days

Benjamin Cowen, founder of Into The Cryptoverse, said on X that Bitcoin (BTC) is expected to form a golden cross within the next few days. Building on this, Cointelegraph reported that BTC, currently trading at $105,236, is likely to confirm the golden cross on its daily chart by the end of May. This technical pattern occurs when the 50-day simple moving average crosses above the 200-day moving average and is widely regarded as a bullish signal. Cointelegraph also noted that previous golden crosses have often preceded strong rallies. BTC surged 45% in October 2023 amid ETF optimism and climbed 60% in late 2024 following the reelection of former U.S. President Donald Trump.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments