Main takeout:
Bitcoin has recently become a golden cross, which has recently been repayed 45-60%.
The foundations such as rising M2 supply and relaxation of trade tensions support the prospects of strength.
According to the weakness of weakness and over -purchasing conditions, there is still a risk of BTC still falling less than $ 100,000.
Bitcoin (BTC) will check “Golden Cross” on the daily chart by the end of May. This is a technology pattern that occurs in recent years.
Previously, Golden Cross led 45-60% BTC price rally.
As of May 20, Bitcoin’s 50 -day simple moving average (50 -day SMA; Red Wave) has been paying attention to more than 200 days since October 2024, and has formed a golden cross.
Previously, BTC Prices increased more than 60%, and Donald Trump played a major role as the US president.
In October 2023, after the Golden Cross, 45% BTC PRICE RALLY was followed by Bitcoin ETF Euphoria. In September 2021, after painting a similar SMA crossover, the BTC price gained 50%.
The golden cross of Bitcoin can fail
Using the indicators you have worked in the past is not a guaranteed strategy.
Traders found that in February 2020, when the Bitcoin’s GOLDEN Cross first prioritized the price of 62%, the global market led by the Covid-19 Lockdowns was ahead of 62%price conflict.
This episode emphasizes the importance of using Golden Crosses with wider technology and macro indicators, taking into account the possibility of unexpected events.
Currently, Bitcoin’s upcoming Golden Cross is mainly consistent with the supportive foundation and places signals on the strength of the ledger.
For example, if you increase the M2 currency supply and relax the US-HINA trade tension, the betcoin’s new record began.
It is noteworthy that BTC signals the correction after the relative robbery index (RSI), which exceeds the excessive threshold of 70 in early May.
relevant: Bitcoin trading BTC in 6-digit territory shows that it is ready to carry gold ‘Baton’ -Fidelity Exec
Therefore, Bitcoin sat in the range of $ 92,400-95,000 as of May 20 instead of immediate rally after the cross and retired back to SMA support.
If the weaker Bitcoin price rising and the drop in RSI, the likelihood of short -term disadvantages increases. Nevertheless, some technical indicators see that BTC prices rise to $ 150,000 in the next few months.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.