Deep Tide TechFlow News, on May 15, according to CoinDesk, the price charts of Bitcoin (BTC) and the world's largest publicly traded Bitcoin holder, Strategy (formerly MicroStrategy), have simultaneously shown a technical bullish signal. Both daily charts show the 50-day moving average crossing above the 100-day moving average, forming what is known as a 'golden cross.' CoinDesk's chartered market technician Omkar Godbole pointed out that this synchronous signal indicates that the short-term trend is surpassing the long-term trend, which may herald the beginning of a major bull market.
The bullish signal for BTC is consistent with other technical indicators like MACD, suggesting that the price movement faces the least resistance in the upward direction. However, analysts caution investors that on-chain data shows influential market participants have turned cautious, with Bitcoin's price encountering resistance in the $101,000-$107,000 range, and it may dip below $100,000 in the short term, retreating to the $98,000 support level.
