CoinVoice has recently learned that according to CoinDesk, Bitcoin (BTC) has synchronized technical bullish signals with Strategy (formerly MicroStrategy), the world's largest publicly traded Bitcoin holder. 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 licensed market technical analyst 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 aligns with other technical indicators such as the MACD, suggesting that the path of least resistance for price movement is upward. However, analysts caution investors that on-chain data shows influential market participants have adopted a cautious stance, with Bitcoin's price encountering resistance in the $101,000 - $107,000 range, and it may dip below $100,000 in the short term, retracing to the $98,000 support level. [Original link]
