BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Popular Crypto Analyst Forecasts Explosive Bitcoin Rally As Potential Golden Cross Spotted – But There’s a Catch

Popular Crypto Analyst Forecasts Explosive Bitcoin Rally As Potential Golden Cross Spotted – But There’s a Catch
A widely followed crypto strategist says Bitcoin ( BTC ) may be gearing up for explosive price action to the upside amid the potential cross of two key indicators.
The anonymous host of InvestAnswers tells his 441,000 YouTube subscribers in a new video that Bitcoin could flash a golden cross in the coming days.

A golden cross occurs when a short-term moving average (MA) rises above a long-term moving average.
“ L et’s look at the golden cross… W e are coming up to one probably in about six days, maybe a little bit less depending on the trajectory of Bitcoin action.
[A golden cross happens] when the green line, which is a 50-day moving average, crosses through the red one which is a 200-day moving average.
In the past, Bitcoin’s big rallies, big, big rallies have all started with a golden cross.”
Source: InvestAnswers/YouTube
The host of InvestAnswers, however, warns that in the case of Bitcoin, there’s at least a 20% chance of a golden cross failing.
“But, remember not all golden crosses have led to a big rally.
I think only about 72% – 80% of them have. But Bitcoin has seen eight golden crosses, of which three confirmed huge moves afterwards.
They’re February 2012, October 2015 and May 2020. These were all on point of pre-staging at least a year to 18-month bull run now and the prices at least doubled or rallied 350% or a lot more.
Now, on the other hand, the golden crosses of July 2014, 2015 and February 2020 were bull traps and the cryptocurrency went down afterwards.”
On the odds that the upcoming golden cross will be followed by a rally, the analyst says,
“ Based on this golden cross for Bitcoin that’s coming up in a couple of days, and the previous chart, maybe there’s a good shot, more than 50% – I’d say at least 60%, 65% shot that this will lead to a good rally.”
At time of writing, Bitcoin is worth $23,401.

I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix



Check Latest News Headlines

 


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Popular Crypto Analyst Forecasts Explosive Bitcoin Rally As Potential Golden Cross Spotted – But There’s a Catch appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Popular Crypto Analyst Forecasts Explosive Bitcoin Rally As Potential Golden Cross Spotted – But There’s a Catch


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script