Bitcoin Golden Cross approaching

[DanielBroonze]

I think This is the Best Golden Cross approaching. What do you Think?

[Oshosondy]

I can see this chart to be 2 hours ago before I am posting this, the golden cross has not yet be established on your chart but definitely it will be establish because I can that the short term moving average is about to cross the long term moving average and this is indicating a bull market. I am not that old to trade and I have never experienced this before until you brought our attention to it. Let us see how this will be, hopefully we should expect bullish market if what moving average experts say about moving average is true.

[Tytanowy Janusz]

We had pump after last dead cross ... we may have dump after golden cross I don't see bitcoin respect golden/dead cross starting from mid 2019. It just jumps in and out without fallowing. But I wonder if we are guaranteed to hit golden cross based on passed performance (no matter what will happend in next 72h) or not because we have Friday today. We are very close to weekend and I expect nothing more than dump today. Institutional investors are out during weekend. Its visible with super low volume and low volatility every weekend. I doubt they will risk waking up in Monday at 39k If we will be hit by second wave as strong as we seen in Thursday which is very likely because we did not see any signs of strength in last 2 days after dump.

[hugeblack]

We can see what happened as a correction after rises from levels of 30K. Therefore, the issue is not the golden cross, but rather the beginning of entering a sleeping market with tops at 52 50 and bottoms at 42 44, and therefore there is no indication of continuous rises.

A crossover of a short-term moving average above a major long-term moving average does not necessarily mean a bullish market, especially in the current situation.

Technical analysis will also fail badly in the coming months.

[palle11]

I have seen moving average on 4hours and above pushing the candlestick further down wards and this may be indication of a little more bear to $42,000 and below. That may be a crossing there approaching the bear. Bitcoin has been a the correction the last 3days and today is not an exception but anything may happen to change the bear ranging.

[el kaka22]

I believe that since it is a Golden Cross, that doesn't mean it looks bullish in the crypto world. Don't get me wrong it could be in stock market or forex market but in crypto market we could have Elon come up and tweet something like "bitcoin sucks" and suddenly we have another huge fall. Or we could have whales dropping the price again, basically any reason could make bitcoin fall like crazy. This is why I do not believe that we are in a situation where bitcoin will have a long term bull run just because we are in a golden cross. However it is another good thing to pile on the all good things we are seeing.

It may not go up just because of it, but it certainly does look like it may have a good reason to go up overall. Let's hope that we end up with a good run after this horrible drop, we definitely deserve it, I am still in profit, I just want it to go up for the benefit of the communities mental health because everyone is going bonkers.

[Tytanowy Janusz]

I believe that since it is a Golden Cross, that doesn't mean it looks bullish in the crypto world. Don't get me wrong it could be in stock market or forex market but in crypto market we could have Elon come up and tweet something like "bitcoin sucks" and suddenly we have another huge fall.

Crypto is not much different than stocks. Why do you think elon has such a driving force in crypto? Because he has proved many times that his twitts have the driving force and are moving with ease the course of one of the largest companies in the world up and down like crazy.

"Tesla shares fall on Elon Musk 'stock price too high' tweet" - https://techcrunch.com/2020/05/01/tesla-shares-fall-on-elon-musk-stock-price-too-high-tweet/

"Less than 24 hours earlier, the billionaire appeared to prompt shares in CD Projekt, which makes the Cyberpunk 2077 computer game, to surge more than 12% after he said via Twitter that a new model of Tesla’s Model S Plaid car would allow passengers to play the game." https://www.cnbc.com/2021/01/29/elon-musks-tweets-are-moving-markets.html

He was even attacked by SEC in 2018:
"Elon Musk Charged With Securities Fraud for Misleading Tweets" - https://www.sec.gov/news/press-release/2018-219ikNr2bSzV87dTqvEHTNbzIEYTl3SzN6XEgsyt0FXzkRFFiyONinVU

Trump twitter was one of the main indicators for SP500 traders in last 4 years. Each time he was posting something price was moving aggresively.

"S&P 500 Performs Best On Days Donald Trump Tweets 30 Or More Times: Study"
https://finance.yahoo.com/news/p-500-performs-best-days-191644863.html

Some stocks are even more manipulated than crypto because they are far less transparent.

So price reaction on influacers is everywhere. But its always short term price action. Long term price action based on fundamentials dont change.

[cryptomaniac_xxx]

I have seen moving average on 4hours and above pushing the candlestick further down wards and this may be indication of a little more bear to $42,000 and below. That may be a crossing there approaching the bear. Bitcoin has been a the correction the last 3days and today is not an exception but anything may happen to change the bear ranging.

It didn't go to $43k, but the price bounce back again to $45k. $43k seems to be a good support levels at this point and it's good that at the 4 hour time frame, we have recovered already. Not saying that we are out of the bears hands, but getting above $43k is a good sign that the bulls are not wiling to give up their position as we approach the latest golden cross.

[buwaytress]

Golden crosses and death crosses. Think they were hot a few years ago but when nothing ever materialised when they kept getting called in 2019, people forgot.

No harm in pointing them out every time they resurface but I ain't holding my breath this one time.

[rincoeng1986]

golden gross is not always valid, it will likely go the other way. I see bitcoin is on the defensive and for bullish need a little push so that bitcoin will bounce back after being hit by the ladder yesterday. many people assume that the golden gross this time is not necessarily bullish but will come back down and return to a holding position to meet the next golden gross.

[Silberman]

I think This is the Best Golden Cross approaching. What do you Think?

I don't really see this having any kind of relevance in the market of cryptocurrencies, I know that this is a very telling sign in the stock market but taking into account the volatility that we witness every single day such event cannot really be used to predict anything because by the time something like that happens the price has moved significantly in one direction or the other, so while it is interesting to think about the repercussions this could have I think the exercise is completely irrelevant.

[GreatArkansas]

I think This is the Best Golden Cross approaching. What do you Think?
https://i.imgur.com/KCSSptp.jpg

I don't really see this having any kind of relevance in the market of cryptocurrencies, I know that this is a very telling sign in the stock market but taking into account the volatility that we witness every single day such event cannot really be used to predict anything because by the time something like that happens the price has moved significantly in one direction or the other, so while it is interesting to think about the repercussions this could have I think the exercise is completely irrelevant.

This is relevant too, but then again, this is another technical analysis, an indicator based on data, more on previous price actions, combinations. So this is still not a 100% guarantee, as you said cryptocurrency is volatile, so it could end up on the opposite side or it will go with the plan but we don't know when or until when it will stay above the gold cross.

[sana54210]

I think This is the Best Golden Cross approaching. What do you Think?

Let's see what we will do in the next few days, because the early days after a crash is the most important part of it. It may look like a golden cross now, but when the crash continues then suddenly you realize that it is not a golden cross but a horrible bear run starting. This is why I honestly believe that we should not be doing anything that is risky just by looking at charts. Obviously this doesn't mean that we will go down, obviously there is a good chance that it could be golden cross, but that is just not the only explanation for it.

I believe that 50k+ will happen again, but I do not think that 70k+ or 30k is in the books right now. Those two huge sides are looking way too much of a move right now, something like 50k is close and a lot more possible if you ask me.

[DeathAngel]

I believe that 50k+ will happen again, but I do not think that 70k+ or 30k is in the books right now. Those two huge sides are looking way too much of a move right now, something like 50k is close and a lot more possible if you ask me.

Dude, you’ve been here since 2013. You know full well how quickly bitcoin can rise in the peak of a bull market, which is usually Q4 in a bull year. $70,000 is absolutely possible before New Year.

[Hippocrypto]

This is going to be so breath taking every now and then, facing the Golden cross is somehow a remarkable death cross for every holders. It's their good fate as btc price struggles to survive on this current downtrend, but our motivations never shakin.
Predictions and target has be undeniably coming to reality, but we should also consider those factors that affects it's growth. Golden future awaits to those who wait, that's why patience is our only way to deal with it.

[adaseb]

Been a while since I checked on these indicators but from what I remember they work half the time and the other time they are nothing but traps. They are not perfect indicators because they are lagging indicators so you are pretty much entering every trade very late.

So when Bitcoin has a very strong bull trend or bear trend is beginning then they are reliable however if it’s trading sideways which it might until Oct then you will get chopped to bits taking the trade back and forth. I wouldn’t rely on this indicator alone.

[The Cryptovator]

Hasn't already broken this so-called Golden cross? I can't see the price zone due to an unclear image, I think the current price is below from given golden cross-zone and continuously dumping. Bitcoin really does not follow any such chart, it's just walking its own way. Because Bitcoin makes the record, doesn't necessary to follow any chart or past trend. Chart, trend everything depends on the investor's movements. I  don't know the exact reason for the current dump, but most probably investors taking a little break. And of course, an uptrend would start any time based on investor's movements.

[bittraffic]

It's going to depend on which indicators you use. The image is too small to look at. But I can see it yellow and almost about to cross a blue line as well. It's yellow, I would assume that's why it's called Golden cross. Bitcoin is too hard to predict for a day trader but perfectly easy for the long-term holders. The holders are the ones that profit the most and they were not even thinking so hard of what else to do whether they buy or sell as the price plunges.

[michellee]

We have many predictions for what will happen to bitcoin, but do we ready for that by having many bitcoins and altcoin for the coming? If we just make a prediction without trying to buy bitcoin or altcoin, we will not join that party instead only see other people make a big profit. And no matter if bitcoin will make a new ATH this year or next year, we should prepare ourselves and be patient because that time will come soon. Hopefully, we will make a big profit again this year.

[ene1980]

~
Dude, you’ve been here since 2013. You know full well how quickly bitcoin can rise in the peak of a bull market, which is usually Q4 in a bull year. $70,000 is absolutely possible before New Year.

Even during this rally the price started to peak in a short period of time and it can happen in either directions and hence it is not a big surprise. Like you and everyone else in the same wavelength about the general market situation i am also expecting the market to rally to all time high valuation despite the fact i am still scratching my head to warp my brain around golden cross approach and dead cross approach  .