$BTC
🔥 BTC "GOLDEN CROSS" 🚸 ❌
The chart you've shared shows the BTC/USDT trading pair on Binance, currently priced at $99,640.01, with a 24-hour high of $99,800.00. Over the recent period, Bitcoin has demonstrated a strong bullish momentum, as indicated by a clear upward price trajectory. The 7-day EMA (yellow line) at $96,758.94 is sharply trending above the 25-day EMA ($92,764.84) and the 99-day EMA ($89,700.87), signaling a short- to mid-term bullish trend.
Notably, the red circled area in your chart points out a "Golden Cross", where the shorter-term moving average (in this case, the 25-day EMA) crosses above the longer-term moving average (99-day EMA). This is typically seen as a bullish technical indicator, suggesting the potential for continued upward momentum.
This cross often attracts traders and investors looking for confirmation of a longer-term uptrend. Combined with strong volume and increasing market confidence (as reflected by the Fear & Greed Index sitting at 65 - Greed), this Golden Cross supports the case for potential further gains in Bitcoin's price.
As long as Bitcoin holds above key EMAs and volume sustains, the bullish sentiment is likely to continue. However, caution is advised during volatile periods, especially with resistance around the psychological $100,000 mark.
