Bitcoin Golden Cross approaching

[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.