Analyze Bitcoin
The appearance of a golden cross indicates that short-term momentum is surpassing long-term momentum (usually presenting a bullish trend).
However, historical data shows that after each golden cross forms, Bitcoin always follows with a sharp drop of 10%. After this decline, Bitcoin will strongly rebound and set new historical highs.
Let's look at specific past cases:
In February 2021, after Bitcoin's 50-day moving average crossed above the 200-day moving average, it dropped 10% within 7 days.
In March 2024, Bitcoin dropped 11% before a violent surge to a new high.
It has been proven that the appearance of a golden cross is merely the ultimate means of the main force's washout strategy before a price surge, used to shake off retail investors, thereby promoting a true price breakthrough.
This is the mechanism of the golden cross pattern.
This week, Bitcoin experienced a correction of about 8%, consistent with past practices. A rebound has already occurred, indicating strong buying interest around the $104,000 to $105,000 range.
On the other hand, it is evident that the upward momentum above $110,000 has exhausted.
What will the subsequent trend be?
If it can hold above $105,000 (which is highly likely), it will aim for the $150,000 mark, replaying the golden cross pattern trend.
If it falls below the $100,000 level, a slight correction to the $90,000 to $95,000 range is expected.
#BTC
The appearance of a golden cross indicates that short-term momentum is surpassing long-term momentum (usually presenting a bullish trend).
However, historical data shows that after each golden cross forms, Bitcoin always follows with a sharp drop of 10%. After this decline, Bitcoin will strongly rebound and set new historical highs.
Let's look at specific past cases:
In February 2021, after Bitcoin's 50-day moving average crossed above the 200-day moving average, it dropped 10% within 7 days.
In March 2024, Bitcoin dropped 11% before a violent surge to a new high.
It has been proven that the appearance of a golden cross is merely the ultimate means of the main force's washout strategy before a price surge, used to shake off retail investors, thereby promoting a true price breakthrough.
This is the mechanism of the golden cross pattern.
This week, Bitcoin experienced a correction of about 8%, consistent with past practices. A rebound has already occurred, indicating strong buying interest around the $104,000 to $105,000 range.
On the other hand, it is evident that the upward momentum above $110,000 has exhausted.
What will the subsequent trend be?
If it can hold above $105,000 (which is highly likely), it will aim for the $150,000 mark, replaying the golden cross pattern trend.
If it falls below the $100,000 level, a slight correction to the $90,000 to $95,000 range is expected.
#BTC
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BTC
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