, the largest cryptocurrency, is on track to complete its first golden cross since early February, a sign of strengthening bullish momentum in which the 50-day simple moving average overtakes the 200-day SMA on an upward trajectory.
A golden cross indicates that short-term price momentum is outperforming the long-term, potentially evolving into a bull run. The opposite of the golden cross is theWhile these indicators are widely-tracked by trend-following traders, they are based on backward-looking studies, and have a mixed record as standalone indicators of bullish and bearish trends. BTC has seen nine golden crossovers to date, of which three, dated July 11, 2014, July 15, 2015 and Feb.
Bitcoin rallied to a record high of $69,000 in the weeks following the September, 2021, golden cross, only to almost entirely erase its gains by the end of the three months. Bitcoin later fell into a death cross.
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