Price Watch: Golden Cross for Bitcoin & MicroStrategy (MSTR) - Bullish Indicator
Overview:
Recent technical analysis from Odaily reveals that both Bitcoin (BTC) and MicroStrategy (MSTR) have formed a Golden Cross on their daily charts—a classic bullish indicator.
Key Technical Indicators:
Golden Cross Formed:
The 50-day Simple Moving Average (SMA) has crossed above the 100-day SMA, suggesting rising short-term momentum.
MACD Supports Bullish Outlook:
Additional technical indicators, like the MACD, are also flashing bullish, reinforcing the possibility of a sustained upward trend.
Price Watch:
Current Range: BTC is fluctuating between $101,000 and $107,000.
Critical Support: A drop below $100,000 may trigger profit-taking, with support seen at around $98,000.
Investor Sentiment:
While the Golden Cross is encouraging, analysts urge caution amid high volatility and the psychological $100K threshold. Close monitoring is advised as BTC tests its resilience.
