{"id":403049,"date":"2019-11-01T12:00:17","date_gmt":"2019-11-01T12:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=403049"},"modified":"2024-06-11T13:31:43","modified_gmt":"2024-06-11T13:31:43","slug":"crypto-market-form-golden-cross-bitcoin-gains-momentum-9000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-market-form-golden-cross-bitcoin-gains-momentum-9000\/","title":{"rendered":"Crypto Market to Form Golden Cross as Bitcoin Gains Momentum Above $9k"},"content":{"rendered":"
Earlier this month, NewsBTC reported<\/a> that the market capitalization of all crypto assets, Bitcoin included, printed what is known as a death cross in the land of technical analysis. The ominous-sounding title is given to when a short-term moving average of any asset \u2013 the 50-day MA for example \u2013 crosses under a long-term moving average such as the 200-day MA. It signifies that bears are in control.\u00a0<\/span><\/p>\n It seems that the recent surge, however, is negating the potential long-term downtrend this death cross can have on this market. In fact, a golden cross has rapidly started to form after the aforementioned death cross.<\/p>\n As pointed out by Brave New Coin’s crypto analyst, Josh Olszewicz, the total cryptocurrency market cap \u2013 the value of Bitcoin<\/a> and all other cryptocurrencies \u2013 is about to form a golden cross. In this case, the golden cross will see the 50-day exponential moving average (EMA) cross above the 200-day exponential moving average.<\/p>\n This will signal that the downtrend has most likely ended at $7,300, and may imply that investors will continue to push the crypto market higher into the coming months.<\/p>\n total mcap trying to golden cross now<\/p>\n let's just call it a RED cross<\/p>\n thanks xi pic.twitter.com\/WidEgSTVcb<\/a><\/p>\n — #333kByJuly2025 (@CarpeNoctom) November 1, 2019<\/a><\/p><\/blockquote>\nRelated Reading:\u00a0As Bitcoin Price Drops To $9K, Here Are the Targets Traders Are Watching<\/a><\/h6>\n
Crypto Market May Resume Uptrend<\/strong><\/h2>\n
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