Bitcoin Price Analysis: Even a $4,200 Drop Can’t Break the Bullish Trend. How Will the Golden Cross Change BTC’s Price?


Bitcoin Price Analysis: Even a $4,200 Drop Can’t Break the Bullish Trend. How Will the Golden Cross Change BTC’s Price?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

As Bitcoin has stopped its rapid growth and is making moves more carefully, some traders have decided that it’s about to dump in the short term. Should we worry about Bitcoin’s future? Twitter users are highly positive because technical indicators give us some strong hints. What are they? Read Bitcoin price predictions to find out how else it will surprise crypto traders in the following weeks.

Something truly great is about to happen

Why? Because the upcoming golden cross couldn’t stay unnoticed! Look at the Bitcoin price chart: when MA50 crosses MA200, a currency makes a breakout. Does it mean BTC will break the next resistance levels? Definitely!

The golden cross might occur in the following weeks or even days:

The best thing is that it might signify a long-term bullish market. This is what many traders were dreaming of!

👉MUST READ Must Read! The Best Indicators and Signals for Successful Crypto Trading
Must Read! The Best Indicators and Signals for Successful Crypto Trading

Some users have noticed the similarity between 2015 and 2019 BTC price patterns. This is another positive sign, don’t you think?

First attempt is always a failure?

However, some Twitter users are not rushing to celebrate victory. History shows that a golden cross isn’t a 100% guarantee of mind-blowing growth. Here’s what happened in 2018:

Of course, it’s natural for BTC to make a few retracements on the way to the top. This is what happened recently, and what might happen in the nearest time:

👉MUST READ Pump or Dump? BTC Price Analysis Is Interpreted in Two Opposite Versions
Pump or Dump? BTC Price Analysis Is Interpreted in Two Opposite Versions

Anyway, BTC continues making attempts to break through the next resistance levels, and moves within an ascending triangle:

Now we should see whether BTC will overcome $5,350 resistance:

Evidently, even if Bitcoin dumps a few hundred bucks, it should recover the value pretty quickly. At the moment, the volume looks good, and the golden cross ensures us good times are ahead.

Cover image via www.123rf.com
Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles