{"id":471709,"date":"2021-09-15T19:00:51","date_gmt":"2021-09-15T19:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=471709"},"modified":"2024-06-11T13:58:39","modified_gmt":"2024-06-11T13:58:39","slug":"bitcoin-golden-cross-is-official","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-golden-cross-is-official\/","title":{"rendered":"Bitcoin Golden Cross \u201cIs Official\u201d According To Capital Manager"},"content":{"rendered":"

The Bitcoin golden cross, a signal that has traditionally been a bullish indicator, is now official, according to a capital manager.<\/p>\n

The Famous Bitcoin Golden Cross Now “Official”<\/h2>\n

According to a capital manager on Twitter<\/a>, the Bitcoin golden cross is now official. This is only the eighth time in the history of the coin that such a cross has occurred.<\/p>\n

The “golden cross<\/a>” has been the topic of discussion all over the online crypto communities today, but what is it that makes it so special? Well basically, a golden cross is marked by a short-term moving average (MA) taking over a long-term one. Usually, analysts consider such an event to be a bullish turn for the market.<\/p>\n

The bullish crossover that Bitcoin is witnessing right now is one where the 50-day MA is moving over the 200-day MA.<\/p>\n

Here is a chart posted by the capital manager that highlights this golden cross for the BTCUSD trading pair:<\/p>\n

\"Bitcoin<\/p>\n

The 50-day MA seems to have crossed over the 200-day MA | Source: Tweet by Dr. Jeff Ross<\/a><\/pre>\n
As the above chart shows, the golden crossover looks to be complete as the 50-day MA makes a move above the 200-day MA. The capital manager believes we will see “Strong short-term price action. Recent bearish patterns breaking down.”<\/p>\n
Related Reading |\u00a0New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course<\/a><\/strong><\/em><\/p>\n
What Does The Crossover Mean For BTC’s Price?<\/h2>\n
Conventionally, the golden cross has been considered a bullish signal for Bitcoin. However, there have certain exceptions throughout its history.<\/p>\n
While golden crosses have indeed been there before the start of previous bull runs, there have also been many cases where the crossover was just a fake out event.<\/p>\n
Opposite to the golden cross is the “death cross<\/a>,”\u00a0 which occurs after every bull market and marks a bearish turn for Bitcoin. During fake out events, alternative false golden and death crosses usually form.<\/p>\n
Related Reading |\u00a0One Way To Protect Your Profit No Matter Bitcoin Pumps or Dumps<\/a><\/strong><\/em><\/p>\n
After BTC hit the latest ATH of $65k, a death cross formed, but the crypto didn’t see any significant downtrend following it.<\/p>\n
\"Bitcoin<\/p>\n
Bitcoin has formed its eighth golden cross ever | Source: BTCUSD on TradingView<\/a><\/pre>\n
Based on the death cross being a false signal, it’s possible this golden cross will just turn out to be another one of those fake out occurrences where a false cross leads into another. However, it could also very well shoot the coin up instead, helping the coin reach the last peak that some indicators have been hinting at<\/a>.<\/p>\n
Where do you think this golden cross will lead Bitcoin to? Let us know in the below poll!<\/p>\n
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Will the Bitcoin golden cross ultimately be\u2026<\/p>\n
— NewsBTC (@newsbtc) September 15, 2021<\/a><\/p><\/blockquote>\n