BTC death cross followed by golden cross looks very bullish
As scary as bitcoin's dips and dives can be, if past is prologue, when bitcoin experiences a death cross (the 50 MA crossing below the 200 MA)
followed by a golden cross shortly afterwards, there is a strong upsurge in bullish momentum that accompanies that pattern. The chart
marks the most recent two times this has occurred which were followed by an 70% and 40% bull run respectively before hitting a reversal.
This swing could be much larger and lead to a more pronounced growth period if the pattern holds true.
The distinction I notice is simply the depth of the dive entering the death cross being more significant than prior occurrences, but the fact that
bitcoin has already swung the averages enough to create a golden cross setup on the 4H chart in such a short period of time is a hopeful sign that
this bearish momentum is about to run out of steam.
followed by a golden cross shortly afterwards, there is a strong upsurge in bullish momentum that accompanies that pattern. The chart
marks the most recent two times this has occurred which were followed by an 70% and 40% bull run respectively before hitting a reversal.
This swing could be much larger and lead to a more pronounced growth period if the pattern holds true.
The distinction I notice is simply the depth of the dive entering the death cross being more significant than prior occurrences, but the fact that
bitcoin has already swung the averages enough to create a golden cross setup on the 4H chart in such a short period of time is a hopeful sign that
this bearish momentum is about to run out of steam.