Bitcoin Golden Cross

[Pab]

 
Historic Moment
Golden Cross just happen
Golden cross is happening when 50MA  cross 200MA on 1 day chart
It is happening right now
It is easy to drawn lines even on Bittrex studies to see that

Last Golden Cross was October 28th-30th, 2015. Subsequent gains of 6787%
So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k
If bitcoin will finally pass 6k and defend 5.8 then it can be very interesting on btc


 

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[Ahab_Hunter_of_BearWhale]

Last time this happened was 2015 early start of bull rally.

[Pab]

Last time this happened was 2015 early start of bull rally.

Yeah something to watch in coming days

[Reid]

Hi Pab.
I dont know anything about that Golden Cross.
Can you enlighten me please by providing links to where I could read more about it?

Thank you in advance.
Kind of intrigued by it.

[The Cryptovator]

So are we on bull trend? Its indicate something positive regarding bitcoin price. Seems current candle is green and bitcoin trying to stay above $5.5K. I am observing today price chart especially hourly. I am expecting a small bull at least above $6K once again. As I told before if btc stay stable above 5K then we will see small bull. And I think we we will see it soon since its trying to stay above $5.5K. In Binance rate it was touched $5.6K and got little dump. And seems now again trying to break this zone. Let's hope something positive for bitcoin holders.

[DeathAngel]

Last time this happened was 2015 early start of bull rally.

Fingers crossed we see a repeat of that movement. It’d be nice to see the new bull market confirmed.

[The Cryptovator]

Hi Pab.
I dont know anything about that Golden Cross.

Look like OP indicate this topic,  Bitcoin Almost Touches $5,600, Forming Its First Bullish Golden Cross Since October 2015. Look like bitcoin was cross this zone on 2015 before bull run and perhaps that's why called it golden zone. And we can see on the chart bitcoin broke this zone once again.

[DeathAngel]

Hi Pab.
I dont know anything about that Golden Cross.

Look like OP indicate this topic,  [https://cointelegraph.com/news/bitcoin-almost-touches-5-600-forming-its-first-bullish-golden-cross-since-october-2015]Bitcoin Almost Touches $5,600, Forming Its First Bullish Golden Cross Since October 2015[/url]

Check out the post by HM on price movements after previous Golden Crosses

There have been 3 notable golden crosses before today on the 50/200 Daily Moving Average.  They are as follows (look for where the red line 200 DMA crosses the yellow line 50 DMA from above).

Golden Cross in 2012
Price is flat during Golden Cross.  Price up by ~ 60% 3 months later



Golden Cross #1 in 2015
Price is falling during Golden Cross.  Price down by ~9% 3 months later




Golden Cross #2 in 2015
Price is rising during Golden Cross. Price up by ~45% 3 months later



Today's Golden Cross for comparison purposes
Price is rising during Golden Cross.



Analysis

So far, most traders seem to be assuming that today's Golden Cross will be like Golden Cross #1 in 2015, with the price crashing from resistance at $6k.  But the mood in July 2015 was very different from today.  Importantly, in 2015 the price had already started to crash before Golden Cross #1.  

Today's Golden Cross most closely resembles Golden Cross #2 in 2015.  Which suggests we could find ourselves with a price of increase of 45% within 3 months, which would be nudging $8,000 in July (and possibly a spike to 10,000 before that...)

[Tytanowy Janusz]

Last Golden Cross was October 28th-30th, 2015. Subsequent gains of 6787%
So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k
If bitcoin will finally pass 6k and defend 5.8 then it can be very interesting on btc

I would not expect 6700% pomp again. Its different market now. It's much easier to pump from 200$ to 20 000$ rather than from 6000$ to 600 000$. Different type of investor and different amount of money is needed for that.

I do agree about strong resistance at 5.8k where huge amount of shorts will be opened. It will be the hardest point to break (but if so those shorts will be liquidated pumping price sharply - if price wont be stopped by huge whale sell wall). After breaking it and holding above 5.8k we will be in very comfortable zone.

[LFC_Bitcoin]

Last Golden Cross was October 28th-30th, 2015. Subsequent gains of 6787%
So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k
If bitcoin will finally pass 6k and defend 5.8 then it can be very interesting on btc

I would not expect 6700% pomp again. Its different market now. It's much easier to pump from 200$ to 20 000$ rather than from 6000$ to 600 000$. Different type of investor and different amount of money is needed for that.

I do agree about strong resistance at 5.8k where huge amount of shorts will be opened. It will be the hardest point to break (but if so those shorts will be liquidated pumping price sharply - if price wont be stopped by huge whale sell wall). After breaking it and holding above 5.8k we will be in very comfortable zone.

We have more trust from institutional investors now though. Institutions & financial corporations have seen how much bitcoin can fly up, they won’t want to miss the boat this time. We also have more exchanges & the infrastructure to cope with big money flowing in.

I wouldn’t rule out us seeing obscenely high price gains again.

[mikeywith]

Ok that is good news, but keep in  mind that back in 2015 the first golden cross was fake, price had a massive correction to the down side right after the golden cross on the daily, this should give us some indication that if we were to repeat the same pattern again then price should dip from here at least 20-30% making a death cross before attempting another golden cross which i believe is the most likely scenario, plus we are approaching extremely powerful resistence.

i would not be so excited at this point at all.  

[Pab]

If we look 2015 then there was significant price rise two days after golden cross begin
So just watch and check the lines
what is significant in my opinion it is move above 5800 $ d defend it
It is very early for that kind of up but we have very good news
Finally Amazon is accepting btc even if Amazon doesn't know about it lol
So relax and watch price action
By my opinion the best will be to consolidate on 5600 $ and then move higher but bulls are able to be very bullish last time

By the way the same we have on ETH chart

[alyssa85]

Last Golden Cross was October 28th-30th, 2015. Subsequent gains of 6787%
So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k
If bitcoin will finally pass 6k and defend 5.8 then it can be very interesting on btc

I would not expect 6700% pomp again. Its different market now. It's much easier to pump from 200$ to 20 000$ rather than from 6000$ to 600 000$. Different type of investor and different amount of money is needed for that.

I do agree about strong resistance at 5.8k where huge amount of shorts will be opened. It will be the hardest point to break (but if so those shorts will be liquidated pumping price sharply - if price wont be stopped by huge whale sell wall). After breaking it and holding above 5.8k we will be in very comfortable zone.

Yes - one of the differences is that there are derivatives that enable traders to short bitcoin, which just didn't exist back in 2017. Bitcoin won't go back to the heady levels of $20,000 till after the halvening next year.

[BrewMaster]

So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k

actually it is something to cry over not celebrate, as currently a lot of traders are crying. because this only tells us that the days of cheap bitcoins at $3k level (lowest price that we will ever see) are over for sure and from now on we all have to pay higher amount of fiat to buy the same amount of bitcoin.

[Pab]

Last Golden Cross was October 28th-30th, 2015. Subsequent gains of 6787%
So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k
If bitcoin will finally pass 6k and defend 5.8 then it can be very interesting on btc

I would not expect 6700% pomp again. Its different market now. It's much easier to pump from 200$ to 20 000$ rather than from 6000$ to 600 000$. Different type of investor and different amount of money is needed for that.

I do agree about strong resistance at 5.8k where huge amount of shorts will be opened. It will be the hardest point to break (but if so those shorts will be liquidated pumping price sharply - if price wont be stopped by huge whale sell wall). After breaking it and holding above 5.8k we will be in very comfortable zone.

Yes - one of the differences is that there are derivatives that enable traders to short bitcoin, which just didn't exist back in 2017. Bitcoin won't go back to the heady levels of $20,000 till after the halvening next year.

Notice that  first physical btc futures is coming in May
But i think lot of money is coming from LTC BCH recent pumps and BSV drama

Cool article http://bitcoingape.com/bitcoin-grinds-higher-will-the-golden-cross-send-btc-to-6k/

It looks like Golden Cross fomo is now more popular than Serena V buying btc

[gentlemand]

It looks and smells like typical TA bilge to me. The X percentages X months later look deeply arbitrary. I guess like all the best TA it could wind up as self fulfilling prophecy so it's just as valid or not valid as slaughtering a goat, chucking its gizzards at the wall and basing your trades on what sticks.

[Reid]

So it is something to celebrate and be careful because many shorts can appear on 5.8 k to 6.k

actually it is something to cry over not celebrate, as currently a lot of traders are crying. because this only tells us that the days of cheap bitcoins at $3k level (lowest price that we will ever see) are over for sure and from now on we all have to pay higher amount of fiat to buy the same amount of bitcoin.

I have the same thought when I saw it.

How could some of the traders afford it now if they are using BTC - USDT exchange. If not, then what is the best legitimate coin to trade it with. Something with stability too. Dont get me wrong but I really hate USDT trading and would love to use another option rather than that.

This is something that could make traders HODL again in FOMO.

Thank you DeathAngel and Coolcryptovator for the quick response.

[BrewMaster]

But i think lot of money is coming from LTC BCH recent pumps and BSV drama

based on what i have seen, majority of traders trade altcoins with bitcoin not with fiat. which means when they dump that altcoin they are dumping it in its bitcoin market (in this case for example they sell it in BSV/BTC market) which means "money "is not coming in bitcoin, people are just getting their bitcoins back after a loss.
even if they sell their altcoins for profit they are still selling it for bitcoin not fiat and their profit will be in bitcoin which either goes to  their cold storage or goes into the next coin getting pumped.

[Harlot]

What I don't like about the Golden Cross is it's ineffective towards volatile market. Unlike its usage towards the stock market or assets meant for investmemt seing a golden cross is a no questions ask sure thing to happen that the asset will go up. It can't be said towards volatile markets as also we the people especially the whales are the ones who decide where the market will go and if how will we play out the current scenario in. For normal traders I know a lot of us are in a gain now let's not forget that Bitcoin can be coming down fast if we get too much greedy with what we are seeing.

[Pab]

But i think lot of money is coming from LTC BCH recent pumps and BSV drama

based on what i have seen, majority of traders trade altcoins with bitcoin not with fiat. which means when they dump that altcoin they are dumping it in its bitcoin market (in this case for example they sell it in BSV/BTC market) which means "money "is not coming in bitcoin, people are just getting their bitcoins back after a loss.
even if they sell their altcoins for profit they are still selling it for bitcoin not fiat and their profit will be in bitcoin which either goes to  their cold storage or goes into the next coin getting pumped.

You can see interesting stats on
https://www.bitfinex.com/  usd  and usdt if you click on usdt it looks like usdt are moving to eth