Bitcoin stands at the Golden Cross

By 19/02/2020News
Bitcoin

19.02.2020 – Special Report. The bulls are scratching their hooves: An interesting formation has just formed for fans of chart analysis. The “Golden Cross” decides on wealth or ruin. Crypto fans expect a bull market up to 26,000 dollars.

50-day line cuts 200-day line

The professionals at CoinTelegraph have been paying attention. The rising 50-day line at BTC has just crossed the moving 200-average from below. The phenomenon is known as the “golden cross” and is a rare occurrence in the crypto-currency.

Golden cross already in April – plus 170 percent


And that’s not all. In addition, according to CoinTelegraph, BTC has hung in a bullish, rising triangle at around 9,800. In these days the decision is made – either the recent highs at $10,400 are attacked or the lows at 9,500 are tested.

A bullish indicator is the fact that a price gap was torn in futures trading last week. As a result, Friday’s session closed at $10,495, while Monday began at below $10,000. BTC has always filled such gaps, making a rise to 10,500 the more likely option. Yesterday’s forecast has apparently been internalised by the bulls – BTC has recently stayed above 10,000 dollars again.

But all is not yet evening. Because the chart formation “Golden Cross” is too simple to be true. Moreover, a 200 line can quickly turn out to be massive resistance. But if enough traders believe in it, the effect of the Gold Cross as a “self-fulfilling prophesy” occurs.

 

BTC bulls take a run-up

By the way, the investment advisor Fundstrat also assisted, BTC could climb to 27,000 dollars by August. The reason and the prerequisite for this is precisely the above-mentioned sustained break of the 200-day line. And venture capitalist Mike Novogratz also assisted that BTC/USD will test the all-time highs until Halving in May.

So let’s wait and see – such a forecast is neither surprising nor altruistic for blogs and investors who are committed to Cryptos. We will keep an eye on the matter for you – the Bernstein-Bank wishes successful trades!


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