NewsBTC
2021-09-15 19:00:51

Bitcoin Golden Cross “Is Official” According To Capital Manager

The Bitcoin golden cross, a signal that has traditionally been a bullish indicator, is now official, according to a capital manager. The Famous Bitcoin Golden Cross Now “Official” According to a capital manager on Twitter, the Bitcoin golden cross is now official. This is only the eighth time in the history of the coin that such a cross has occurred. The “golden cross” has been the topic of discussion all over the online crypto communities today, but what is it that makes it so special? Well basically, a golden cross is marked by a short-term moving average (MA) taking over a long-term one. Usually, analysts consider such an event to be a bullish turn for the market. The bullish crossover that Bitcoin is witnessing right now is one where the 50-day MA is moving over the 200-day MA. Here is a chart posted by the capital manager that highlights this golden cross for the BTCUSD trading pair: The 50-day MA seems to have crossed over the 200-day MA | Source: Tweet by Dr. Jeff Ross As the above chart shows, the golden crossover looks to be complete as the 50-day MA makes a move above the 200-day MA. The capital manager believes we will see “Strong short-term price action. Recent bearish patterns breaking down.” Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course What Does The Crossover Mean For BTC’s Price? Conventionally, the golden cross has be...

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