Golden Cross: Feed for the Bitcoin bulls? | BTC-ECHO


One way ahead. Despite all the effort we make, we have not (yet) found the crystal ball. Whether the Bitcoin course is finally shooting through the moon or we are just feeding the bears by tapping into the bull trap: With 100% certainty we can only say tomorrow what the Bitcoin price will be. Nevertheless, there are some indicators, both fundamental and technical, that give us a sense of the future. Today: the Golden Cross (in German: Golden Cross).

What is the Golden Cross?

The Golden Cross is an indicator of traditional trading that applies to bitcoin trading and thus to bitcoin price forecasts. We are dealing with a character who is the antithesis to Death Cross. (More in detail here).

The Golden Cross crosses two important signals: the short-term moving average MA50 the long-term MA200 from below. The latter is again the average price of the last 50 or 200 days. (More here).

Now the Golden Cross is a bullish buy signal. Overall, the intersection of the two averages points to an upward movement. Because overall, the MA200 is given more importance due to its long-term nature. If one medium value crosses the other, this is understood as a trend reversal: The bears let the bulls in.

As you can see from the above chart, the Bitcoin price has reached the golden cross right now. As you can see from the chart above, the end of 2015 has happened before. However, before going uphill for a long time, the price fell after crossing the Golden Cross for a certain period of time. Only then did the cops enter a longer-term rendezvous.

Another important indicator for bulls' bulls: Trading volume has been rising steadily over the last month. If you stick to these indicators, that speaks for a speeding up of the Bitcoin course.

The Golden Cross and the Bitcoin Course: How Safe is the Indicator?

As is often the case in the area of ​​trading and chart analysis, we are also looking to the past in the Golden Cross in order to derive forecasts for the future. What we can tell: In the past, the Golden Cross proved to be a good indicator of a longer-term price increase. The reverse retrospective also reveals that the Death Cross, a bearish counterpart to the Golden Cross, introduced a negative Bitcoin price progression in March 2019.

In order to provide further guidance, the view on the larger picture is worthwhile. As we can safely conclude, dealing with cryptocurrencies is becoming increasingly attractive to institutional investors. This suggests that these too are based on indicators such as the Golden Cross, as it is an adaptation of a traditional indicator on a novel investment and trading vehicle.

Nevertheless, the crypto sector remains unpredictable. Sudden price falls as well as steep climbs can be expected at best. That's how long we stay in search of the crystal ball.

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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .

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