🔥 Bitcoin 3-Day Golden Cross: Begin Or The End Of Bull Trend?
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As seen on the chart, Bitcoin has now experienced a golden cross on the 3-day chart. A golden cross means that the 50-period moving averege (blue) crosses the 200-period moving average (yellow) from below, which is often seen as a bullish thing in the financial markets.
Seeing that we only have two datapoints, we can't really make a statistically feasable forecast whether the price will go up or down from this point.
Another way to look at it is to argue how the market looks. Does the market look like it wants to go on some crazy bullish move, potentially even make new all-time highs in the next 6-12 months. Or, does the market look like it wants to stabilize, potentially even correct after several green months.
With both bullish and bearish outlooks being plausible, I think a bearish correction over the next months is more likely than a bullish move.
Share your thoughts in the comments below 🙏.
As seen on the chart, Bitcoin has now experienced a golden cross on the 3-day chart. A golden cross means that the 50-period moving averege (blue) crosses the 200-period moving average (yellow) from below, which is often seen as a bullish thing in the financial markets.
Seeing that we only have two datapoints, we can't really make a statistically feasable forecast whether the price will go up or down from this point.
Another way to look at it is to argue how the market looks. Does the market look like it wants to go on some crazy bullish move, potentially even make new all-time highs in the next 6-12 months. Or, does the market look like it wants to stabilize, potentially even correct after several green months.
With both bullish and bearish outlooks being plausible, I think a bearish correction over the next months is more likely than a bullish move.
Share your thoughts in the comments below 🙏.
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