During the previous 2 cycles, once
BTC
's 100d-MA fell below the 600d-MA (death cross),
BTC
's price proceeded to capitulate to at or near the bear market lows.
Once
BTC
's 100d-MA moved above the 600d-MA (golden cross), the 100d-MA did not come back down below the 600d-MA until the following cycle's lows.
Moving now to the current cycle,
BTC
's 100d-MA once again fell below the 600d-MA on May 13 2023.
BTC
's price then proceeded to capitulate down to the current cycle's low (~$15,473).
Then on July 26 2023,
BTC
's 100d-MA moved above the 600d-MA.
Now we just need to wait and see if the trend holds.
Confirmation won't be known until either the next bull cycle really kicks off, or if the 100d-MA is not able to hold above the 600d-MA before price can reach a new ATH.
Death to the Golden Cross
BTC
's 100d-MA fell below the 600d-MA (death cross),
BTC
's price proceeded to capitulate to at or near the bear market lows. Once
BTC
's 100d-MA moved above the 600d-MA (golden cross), the 100d-MA did not come back down below the 600d-MA until the following cycle's lows. Moving now to the current cycle,
BTC
's 100d-MA once again fell below the 600d-MA on May 13 2023.
BTC
's price then proceeded to capitulate down to the current cycle's low (~$15,473). Then on July 26 2023,
BTC
's 100d-MA moved above the 600d-MA. Now we just need to wait and see if the trend holds.
Confirmation won't be known until either the next bull cycle really kicks off, or if the 100d-MA is not able to hold above the 600d-MA before price can reach a new ATH.
Death to the Golden Cross