A 8th golden cross of Bitcoin before the halving

[Catenaccio]

[Tutorial] Golden cross VS death cross

Bitcoin chart shows a chance for the 8th golden cross of Bitcoin in its history.

I understand that a several months before a Bitcoin halving is good opportunity to buy it and speculate to get profit by holding only several months. I don't need a  golden cross to buy it and hold it.

This golden cross is another confirmation of the coming big bull market for Bitcoin.

When will halving happen?
We don't know the exact date of the halving but can use estimated date.
https://www.bitcoinblockhalf.com/
176 more days and it will happen around 24 April 2024.

[EarnOnVictor]

Immediately I saw your line, I knew it was an MA line and MA is actually good for support and resistance provided they are of high periods. 50 periods is still okay, but this is the beginning of the acceptable period I know, and those of 100 and 200 MAs are also good. If all could agree on what you said, that means Bitcoin might be getting ready for your disposition. Only that your image quality is poor and might lack the necessary information as I couldn't see the timeframe you used for it.

On my chart;

Daily: 50MA+100MA+200MA = Passed

Weekly: 50MA+100MA+200MA = Passed

Monthly: 50MA+100MA+200MA = Failed (only 50MA passed).

Regardless, even with these combinations, Bitcoin is heading for the moon.

[DeathAngel]

Hopefully it signals the start of a violent upwards surge but I feel like I’ve seen these golden crosses in the past which fail to materialise into a big pump. Maybe it’s just coincidental when the price does soar. I mean we are at the very beginning of a bull run now so the price is due to start going up soon any way. Regardless, I hope we start to moon soon.

[so98nn]

Yeah, we can not deny the fact by now Bitcoin is meant to go up very soon. We are going to see a lot of surprises incoming soon as we go towards the year's end and more closer to halving the event. This is happening always, there is no turning back in terms of halving and bitcoin going upwards in its valuation.

This is why Bitcoin is meant for long-term holding only. Man, I am just having thoughts about "those" peeps who are still holding their Bitcoins from the initial days. They must be having fine dining right now and enjoying their 8th Bitcoin Hike. 

As usual, we gonna see lot of threads where peeps will be sad as to why they did not choose Bitcoin back in the time and even some of them still not understanding how it works and fail to HODL.

[hugeblack]

You need to resize this image or at least take a screenshot yourself instead of quoting it from a service.
The golden cross is a confirmatory buy signal and it corresponds to some predictions that indicate that we will be between 45k to 52k before next February and then return to levels close to the current price when halving happens. Therefore, I agree with you, but since political and economic changes may accelerate in the next two months, it is better to wait to see some upcoming economic data and the next Fed meeting before the certainty rate increases to more than 80%.

[348Judah]

There have been alot of charts already that have pointed out many scenarios on bitcoin market price with the influence from the ongoing market, this also contributed in showing that bitcoin is going more bullish towards it present stage mergin the 8th golden cross, this could also be the implications of what we should expect sooner as it's already indicated from the chart presented, everyone holding bitcoin for an investment will soon be ever grateful for their right decision because the market is going more of bull than the bear with current speculations.

[Kemarit]

Regardless though, I mean we all know that the bull run is going to come, and maybe this TA just validates everything in my opinion. And we have seen a lot of TA in the past as well when we are fast approaching the block halving that is a hit or miss.

There could still be some noises in the background I believed like what is happening in the Middle East. Or the positive news that a Bitcoin ETF can bring in the market for next year. But one thing is for sure, it's going to be very hard to stop the market once we goes on another bull run in 2024-2025 despite the 8th golden cross or what indicator will take shape.

[STT]

Moving averages are indicators, there isnt any significant peak volume of trades at that average as its moving not fixed so there is not any absolute resistance or support in this level indicated.   Even though that is true people do place orders around these levels as they move and it could serve as a turning point especially short term but in the end I expect something more solid to be confirmed in a proper move and I wouldnt stand on any MA even daily bars knowing its just a line in the sand.

[Franctoshi]

Other indicators already pointed out that we are on the verge of a new Bull market but Golden Cross is a very good indicator that has accurately predicted some bull markets in the past and has more success rate if we find it crosses in the higher time frame, such as the weekly and the monthly timeframe. We are getting closer to the point where time, indicators, and market structure are beginning to align or come into agreement and this is exactly what I could recall happened before the previous bull run, after which the market took off and we saw Bitcoin skyrocket in price months later.

[yhiaali3]

I understand that a several months before a Bitcoin halving is good opportunity to buy it and speculate to get profit by holding only several months. I don't need a  golden cross to buy it and hold it.

Yes that is it, I strongly support you on this point I also do not need a golden cross to buy Bitcoin and hold it beyond halving.

What I mean is that regardless of the indicators they all seem positive I personally do not need the analysis to follow the DCA strategy and accumulate as much as possible before the rapidly approaching halving.

Despite the significant rise we have achieved over the past few days, the opportunity is still available to accumulate more and more.

[salad daging]

What I mean is that regardless of the indicators they all seem positive I personally do not need the analysis to follow the DCA strategy and accumulate as much as possible before the rapidly approaching halving.

Despite the significant rise we have achieved over the past few days, the opportunity is still available to accumulate more and more.

We how to see many indicators that have started to positively us where bitcoin is going so accumulation with the DCA strategy is very important, this is still being done before the price is really high, the opportunity at the price of $34K is still there to continue to take it because this is only a drop that has been achieved.

We feel the significance of how the price from $28K jumped to $34K and is now holding, it looks like it will continue to be sideways at the current price, we don't know how the month of November will there be another mini bull? At least we are still there to keep accumulating bitcoin.

[Silberman]

Hopefully it signals the start of a violent upwards surge but I feel like I’ve seen these golden crosses in the past which fail to materialise into a big pump. Maybe it’s just coincidental when the price does soar. I mean we are at the very beginning of a bull run now so the price is due to start going up soon any way. Regardless, I hope we start to moon soon.

The golden cross is a very well known indicator which tell us that a market is about to experiment some fast growth, however the golden cross works better on markets that move more slowly due to the very high number of periods needed to calculate it, in a market like this one once the golden cross appears a great deal of the positive movement has already happened, and you would have missed it if you waited for such a confirmation pattern.

[Dave1]

Hopefully it signals the start of a violent upwards surge but I feel like I’ve seen these golden crosses in the past which fail to materialise into a big pump. Maybe it’s just coincidental when the price does soar. I mean we are at the very beginning of a bull run now so the price is due to start going up soon any way. Regardless, I hope we start to moon soon.

The golden cross is a very well known indicator which tell us that a market is about to experiment some fast growth, however the golden cross works better on markets that move more slowly due to the very high number of periods needed to calculate it, in a market like this one once the golden cross appears a great deal of the positive movement has already happened, and you would have missed it if you waited for such a confirmation pattern.

Well we did a violent upwards trend already, at almost $38k. So that is a big surge in the last 48 hours or so. And Since the OP has open this thread, the prices also goes up very fast. So it might have validated the golden cross but if I'm not mistaken, it will still goes on another run so most likely the price target is $40k for this November.

So let's see, even though the halving is still very far, it seems that the investors are preparing for it as early as this month.

I'm still wanted to see my speculations of around $40k-$50k at the end of the year.

[adaseb]

I don’t find any of these gold crosses ever reliable. Usually it opens up being a trap and even if it’s correct, it’s a lagging indicator and if you entered when it crossed you would buy at a top more or less.

I found the 200WMA to be accurate because it worked like 3 times without fair, however last year it failed to hold: think it was $22K but Bitcoin went lower to $16K or so shortly after. So unless you had a huge stop, it would be difficult to trade this.

[mk4]

This chart of @rektcapital has been getting rounds on crypto twitter. Always haven't been a fan of such charts, but man if this ended up being accurate for 2023-2024 then I'm going to be REALLY happy.



https://twitter.com/rektcapital/status/1722931662432960608/photo/1

[slaman29]

Several months before halving a good time to buy? It's always a good time to buy and if you bought it every day or week or month before now you would already be getting such good prices

Lesson here is don't worry about timing, just keep buying. Today eve, halving even, after halving even.

When $100k happens, it all will be good buys.

[fzkto]

Several months before halving a good time to buy? It's always a good time to buy and if you bought it every day or week or month before now you would already be getting such good prices

Lesson here is don't worry about timing, just keep buying. Today eve, halving even, after halving even.

When $100k happens, it all will be good buys.

If the price is 100k, that's about 2.7x the current price. Which seems like a very small result for the cryptocurrency market. So it seems to me that it is better to buy better when there is a correction. I am sure that before the halving there will be an opportunity to buy bitcoin cheaper than now.

[jaberwock]

Several months before halving a good time to buy? It's always a good time to buy and if you bought it every day or week or month before now you would already be getting such good prices

Lesson here is don't worry about timing, just keep buying. Today eve, halving even, after halving even.

When $100k happens, it all will be good buys.

People are simply different. Some will focus on a shorter goal for a while. This is why they can use the halving event as their boundary because they expect that the price will soar high when that moment comes. Now for those people like you who have a higher goal, you can easily think beyond that.

I think there will be a time where BTC can't increase anymore because all people are already here and then BTC already reach its highest potential. So, don't say that all time or each price is a best buy. Even today there are people who are still in losses because they bought above the price that we are seeing now but they have a good chance to recover as long as they continue hodling.

[adultcrypto]

Immediately I saw your line, I knew it was an MA line and MA is actually good for support and resistance provided they are of high periods. 50 periods is still okay, but this is the beginning of the acceptable period I know, and those of 100 and 200 MAs are also good. If all could agree on what you said, that means Bitcoin might be getting ready for your disposition. Only that your image quality is poor and might lack the necessary information as I couldn't see the timeframe you used for it.

On my chart;

Daily: 50MA+100MA+200MA = Passed

Weekly: 50MA+100MA+200MA = Passed

Monthly: 50MA+100MA+200MA = Failed (only 50MA passed).

Regardless, even with these combinations, Bitcoin is heading for the moon.

From a technical standpoint, just like you posted, Bitcoin is set to make history. However, fundamental is like the fuel that propels the movement in support of the technical analysis. In my opinion, from fundamental standpoint,  there are still so many uncertainties surrounding Bitcoin. First, what happens when the Bitcoin ETF are not approved? Will Bitcoin still go to the moon now unders such situation? Will this not make investors disappointed that they might decide to dump Bitcoin so hard?

Secondly, what will become the future of Bitcoin if government insist on regulating it? Will this not change everything? These are many other questions are begging for answer to clarify the fundamental aspect of Bitcoin.

[Sophokles]

For a long term holder all these charts and indicators are a waste of time. Current bitcoin market behavior can give you are possible scenario after one or two month it won't be able to predict what will happen after an year. Only historical data gives you an possible accurate scenario of where bitcoin can be after an year. I am not sure about other market but this is quite unique for the bitcoin marketplace.