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  .

[lixer]

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

The lower price right now someone convinces people that golden cross is not approaching. However remember that the last time we saw 40k+ price was when the price dropped from 32k to 28k, it had the lowest amount we have seen in the past 5 months and then suddenly it skyrocketed back over 45k. So, just because something is falling doesn't mean that it will keep falling.

Sometimes in life some things (not always money or prices) do not always fall, it falls and falls and falls but one day it stops and at that point it is the golden cross, it is the moment when things start to look good, and it starts to skyrocket and everything goes perfectly for a long time. I believe that the same thing could be happening here, it "looks" bad but I feel like it is actually not that bad.

[davis196]

This type of "draw a line over the chart and start making predictions" analysis looks like shamanism to me.
This is the same as watching a crystal ball,acting like Nostradamus and making weird conclusions about the future of the world.
The BTC price might hit a "golden cross" or "golden X" or whatever.And so what?Even if the price hits a new ATH,it will go down after that for sure.The people who think that the Bitcoin price will come to a phase,where it will only up and up to the moon are simply naive.The price will keep moving thru pump and dump cycles,corrections and ATHs,bull runs and bear markets.We might not like it,but this is how Bitcoin is designed to be.

[Silberman]

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.

Once the two lines get so close you could even predict the day in which this is going to happen so this is not difficult, the real question is if the market is going to have any kind of reaction at all when the golden cross happens and I personally believe this is not going to be the case as the market is simply too volatile for indicators that are this slow to have any kind of significance, if the price moves up it simply has to do with the realities of the market and not because two indicators crossed each other.

[STT]

Moving averages relate to momentum in the price, its nothing more then data till conclusions are pressed as to how this will effect current price.  Its not especially far fetched for a rising average price to be considered bullish, the 50 day above 200 just implies a positive phase where as earlier this year we entered a sell off period quite normal after such rises.
  Speculative trades do tend to guess MA as support or guidance in some way which is probably where it becomes too stretched in its reliance however its never just invented its a reflection of price history so valid to refer to imo.  Right now we just above 2 day average, a very fast measure to trade along and also the monthly average price is in this area, sideways consolidation is occurring most likely.

[tbct_mt2]

Moving averages relate to momentum in the price, its nothing more then data till conclusions are pressed as to how this will effect current price.  Its not especially far fetched for a rising average price to be considered bullish, the 50 day above 200 just implies a positive phase where as earlier this year we entered a sell off period quite normal after such rises.

They are indicative lines that lag behind the price movements. Golden cross does not make sense if you see it on a chart with decreasing volume. It can be fake golden cross. If you see a golden cross with increasing volume, it makes sense.

 Speculative trades do tend to guess MA as support or guidance in some way which is probably where it becomes too stretched in its reliance however its never just invented its a reflection of price history so valid to refer to imo.  Right now we just above 2 day average, a very fast measure to trade along and also the monthly average price is in this area, sideways consolidation is occurring most likely.

Indicators with lags like Moving average are not good to use. Because you are late than others if you use lag indicators. If it says bullish, bull run already began for a while before. If you take the signal, and buy, you can get trapped.

[OgNasty]

So far that golden cross has proven to be a bull trap. The time for the expected blast off to the moon is quickly approaching though. If the prophesy it to turn out to be true, this might be the last dip before the big move. Maybe wishful thinking, but this may turn out to be a good buying point.

[STT]

I dont take the golden cross as anything literal that I can trade mostly because thats my experience, its not been of benefit to me previously.    I can go with 200 day average because its so long term and its only a general indicator, main thing I'm told is to respect its direction more then being like any kind of local support.  So 200 day average is rising and I think we are positive in that context but right this moment we are trading negatively and thats my guess for the mood to BTC maybe largely because general markets are experiencing some turbulence and that easily spreads to other assets.

If its correct we cant expect support in this area then 42k or even 39k is reasonable for a reset perhaps.

[btc_angela]

So far that golden cross has proven to be a bull trap. The time for the expected blast off to the moon is quickly approaching though. If the prophesy it to turn out to be true, this might be the last dip before the big move. Maybe wishful thinking, but this may turn out to be a good buying point.

If we close the monthly candles with red, it's possible that the price could still go down to $30'ish. If so, then this could be the last bearish dip that we are going to see and hopefully, we take advantage of it and buy the dip. And then we form another pattern, the last leg up moving to that 6 digit that might happen to be touch at the end of 2021. So take advantage of every dip and let's continue to accumulate as much bitcoin as we can.

[raji1995naya]

I don't think it looks bullish in the crypto industry just because it's a Golden Cross. It might happen in the stock market or the FX market, but in the crypto market, powerful tweets can cause another massive drop. We may have whales reducing the price again, or any number of other factors could cause bitcoin to plummet. As a result, I do not believe we are in a position where bitcoin will see a long-term bull run just because we are on a golden cross.

[crzy]

I don't think it looks bullish in the crypto industry just because it's a Golden Cross. It might happen in the stock market or the FX market, but in the crypto market, powerful tweets can cause another massive drop. We may have whales reducing the price again, or any number of other factors could cause bitcoin to plummet. As a result, I do not believe we are in a position where bitcoin will see a long-term bull run just because we are on a golden cross.

Considering the candle sticks right below that golden cross, we are going into a bear trend and now its happening, there’s a huge sell pressure and the support might not be able to stop it soon if selling continuous. Bull run can still happen, its just that Bitcoin can’t do that consistently and what we need right now is to be more stable and not to go below the support level again.

[jaberwock]

The lower price right now someone convinces people that golden cross is not approaching. However remember that the last time we saw 40k+ price was when the price dropped from 32k to 28k, it had the lowest amount we have seen in the past 5 months and then suddenly it skyrocketed back over 45k. So, just because something is falling doesn't mean that it will keep falling.

Sometimes in life some things (not always money or prices) do not always fall, it falls and falls and falls but one day it stops and at that point it is the golden cross, it is the moment when things start to look good, and it starts to skyrocket and everything goes perfectly for a long time. I believe that the same thing could be happening here, it "looks" bad but I feel like it is actually not that bad.

Yeah, unfortunately things didn't go as well as planned for the time being. Obviously this doesn't mean that it will not go that well in the future neither. It may go very well in the future, it just didn't happen for now that's it. I believe we could definitely see a higher price in the long run, it will not be today but it will happen one day.

Gold cross did not happen for this time, it did not happen BUT it is there and that should give us some hope. What I believe right now is the fact that there is a good chance we could end up with 50k+ in a month or so, October seems like as good as any other month. This drop can't sustain for a long time, bear whales try their hardest but retail stops them very well.

[Boov]

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

This is what my trader friend told me last month, that we may encounter big drop before having back the next ATH of btc market. Even though we've reached $50k for the first time after recovery, that doesn't mean for a celebration because volatility still strikes so bad. People with confidence will be buying this upcoming golden gross, and I'm sure all the risk will paid with good rewards.

[TravelMug]

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

This is what my trader friend told me last month, that we may encounter big drop before having back the next ATH of btc market. Even though we've reached $50k for the first time after recovery, that doesn't mean for a celebration because volatility still strikes so bad. People with confidence will be buying this upcoming golden gross, and I'm sure all the risk will paid with good rewards.

And it seems that the golden cross has been validated in the last 24 hours as the price plummeted to $42k-$43k. Hopefully though it will show some support as I believed that if the price goes down below $43k, we might be in for another worst September performance.

Yeah, why not turn this into a "golden opportunity", fill our bags with cheap BTC and then wait and HODL for at least the end of the year.

[adaseb]

Since the OP never updated the graph it’s hard to tell whether it crossed or not. Since this is a bullish cross it means you were suppose to long after it crossed however it doesn’t look like it did. Since price went down it couldn’t of uncrossed where you would of taken a short. So this was either bull trap or no trade.

September was predicted of being a neutral or bearish month. Look at all the September’s in the past, they weren’t huge bullish candles. Usually October and November are better for crypto and even stock markets in general.

[cryptomaniac_xxx]

September was predicted of being a neutral or bearish month. Look at all the September’s in the past, they weren’t huge bullish candles. Usually October and November are better for crypto and even stock markets in general.

Most likely September will continue to be bearish as we might close the month with a red candle.

And with that said, golden cross or not, we might be a bit cautious for this month, only like a week before it closes so I'm not expecting any price movement above $45k. Currently it goes down again because of some news from China again. Nevertheless, I'm not seeing the effect will be long term though, we all just need to be calm and not panic and sell at this price.

[Oilacris]

Just take a look on what happened whenever we do cross that golden cross.?

https://www.coindesk.com/markets/2021/09/15/bitcoin-golden-cross-appears-in-price-charts-confirming-bullish-trend/
https://finance.yahoo.com/news/golden-cross-bitcoin-btc-continuation-144902244.html

I dont really take that much seriousness about these technicals but it isnt really bad to look at either.

[STT]

Problem at the moment is despite the 50 day rising above the 200 day, the more important 200 day measure is now falling due to the continued weakness post peak this year.  I take the 50 year average as more reliable and averaging main markets and weekend trading also and thats still rising in the longer term yearly average.

[tbct_mt2]

The occurrence of the chart is caused by several things, the long-term or short-term movement shows the market looks stable, the movement caused by the chart actually has good opportunities and potential for the future, several hours have not been confirmed this will happen to hold or stay in the current position, but let's Let's just wait for the results of the graph, whether it can move or will it be stuck in the same position, although I don't really understand the meaning of the movement of the graph, but gradually I will get used to it.

When Golden cross appeared weeks ago, people believed Bitcoin will rise a lot. The fact is it fell a lot after that golden cross.

Another fact is week later and after the end of September, the effect of golden cross is confirmed. Bitcoin rose significantly and is trying to break $51,000. Next target will be $57k and the strong resistance is $64k. Do you think Bitcoin will break $64k and golden cross again will be a good signal for parabola growth?

[btc_angela]

This post was one month ago, and yeah it seems that this golden cross really indicates a bull run as we are crossing $60k again. So I do hope that those who have seen this or pointed out in this community have bought last month and for sure they made money by simply holding on it, it's a positive bias, and mostly it is really a bullish indicator as posted by the OP. I think the next target will be $63k before we might see another new pattern emerging.

[bots1]

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

In my opinion, the condition of the Golden Cross gives a signal that the price of bitcoin is in a strengthening trend so it has the potential to rise and this has started a few weeks ago. If the bitcoin price is in this condition, you can make a purchase. The bitcoin price increase will continue and the next resistance target is $65k.

[leea-1334]

In my opinion, the condition of the Golden Cross gives a signal that the price of bitcoin is in a strengthening trend so it has the potential to rise and this has started a few weeks ago. If the bitcoin price is in this condition, you can make a purchase. The bitcoin price increase will continue and the next resistance target is $65k.

But did we not also see several golden crosses already this year, last year and even in 2019? I have a feeling this indicator is no longer as useful as it used to be or at least maybe no longer sufficient to really look into Bitcoin.

Stock to flow works best because it is exactly what the Bitcoin market reflects. Supply available, supply coming and demand.

[tbct_mt2]

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

In my opinion, the condition of the Golden Cross gives a signal that the price of bitcoin is in a strengthening trend so it has the potential to rise and this has started a few weeks ago. If the bitcoin price is in this condition, you can make a purchase. The bitcoin price increase will continue and the next resistance target is $65k.

Golden cross can be a fake one if it does not occur with increasing in volume. In order to have a good and sustainable growth, we need golden cross, increasing trading volume.

If golden cross occurs with decreasing volume, we must be careful, it can be a fake golden cross and price can drop after the cross.

[el kaka22]

We have always been going up eventually, it is not like there is a rare situation where bitcoin goes up very high very quickly, it is obvious that we are going to have situations where we will skyrocket to insanely high prices and it will keep up happening all the time. However, the reality is that we are in a situation where people are acting like there is a chart where you can read how it will go up, you do not need a chart, after a while of not being high, it will be high and that’s all you need to know and you do not need to know anything extra, which is happening right now.

Forget about macd, rsi, golden cross and anything else you know, it is a hype, it is a bull run, it is doing fine and broke ATH because have been low for a while and no longer low, that’s all we need to know, you know what happens next? We are going to see price crash, no idea when, but it will happen. That’s how the market works.

[tbct_mt2]

We have always been going up eventually, it is not like there is a rare situation where bitcoin goes up very high very quickly, it is obvious that we are going to have situations where we will skyrocket to insanely high prices and it will keep up happening all the time.

Because whales spend months to make price down, to accumulate Bitcoin, to complete consolidation, when they pull triggers for a new bull market, a new ATH, it won't be a small one like 20%, 30%. It would be bigger, 100% or more.

Forget about macd, rsi, golden cross and anything else you know, it is a hype, it is a bull run, it is doing fine and broke ATH because have been low for a while and no longer low, that’s all we need to know

I agree. MACD, RSI, Golden cross are too long delayed indicators and they are not good to assess anything. A pure chart and volume profile (VPVR) are enough.

you know what happens next? We are going to see price crash, no idea when, but it will happen. That’s how the market works.

It will be time of fud on media again. We see it many times. Bitcoin lost $10,000 in a few hours, in a day. If Bitcoin makes its new high  at $100,000, the next crash can be $40,000 or $50,000, that will be insane crash, in dollar value.

Media will fud Bitcoin again. Bitcoin has died 432 times