We are about to see something pretty bullish on Bitcoin
Over the last 5 years we have only see 2 Golden Crosses on the daily chart.
A Golden Cross is a technical pattern where a shorter term moving average crosses over a longer term moving average to the upside.
Usually the shorter term moving average is the 50 period moving average and the longer term moving average is the 200 period moving average.
(Source: https://www.investopedia.com/terms/g/goldencross.asp)
Well, bitcoin has only seen 2 such occurrences within the last 5 years...
And guess what?
They were extremely bullish!
The first one happened back in late 2015, right before bitcoin went on its massive run to $20k.
The second happened in early 2019 when bitcoin ran from $4k to roughly $14k.
We are about to see the 3rd one trigger tonight or tomorrow...
(Source: ~~~ embed:1229476489873195011) twitter metadata:Q3J5cHRvY2FwdGFpbjEwfHxodHRwczovL3R3aXR0ZXIuY29tL0NyeXB0b2NhcHRhaW4xMC9zdGF0dXMvMTIyOTQ3NjQ4OTg3MzE5NTAxMSl8 ~~~
If history has been any indication, we can expect very good things to come!
In both of the last two instances, a golden cross triggered a rally than went up over 3x from the trigger point.
If that same pattern repeats here, we would see this next peak to be at least $30k...
And that would be the low estimate. :)
Stay informed my friends.
-Doc
Hope its not a "fake out" we seem similar in 2015 but usually this "golden cross" is MACRO BULLISH :)
Often when a gold cross first happens, there is a dump, only to have the actual cross happen a bit later with the much larger move. It's possible something like that could happen here as well.
50k by year end is my prediction
I think we see $20k+ at some point this year, just a question of when in my opinion.
We'll I would hope so by now!! We'll See, fingers crossed! BTW whenever I post bear posts it's just to trap a bunch of shorts. I need BTC to go up, and when ever i post BTC to the moon it usually goes down, so I tend to like to make bearish posts! I picked up a little bit off BTC today!! Still worried about STEEM & STEEMIT though, might be better off converting it to BTC? At this point do I really need the extra gains of an alt outperforming BTC? Maybe, still hard to tell what's going to happen with STEEM!!
Bitcoin is by far the safest play inn crypto, though in absolute terms it's not that "safe". Owning a fair amount of both gives you a good risk/reward allocation. Though the ratio of that allocation is your call. :)
30k pffff, I'm thinking more like 100k! When bitcoin breaks in to new ATH territory, it's gonna be a straight moon shot!
I'm trying to sell 50K this year, 50 good enough for meh, and 150 for next year! lol
I'd take half that and be pretty happy!
I don't think it's unrealistic at all Bro! We gonna be rich 🤑😆🌹
I agree that it could certainly happen, though past patterns indicate the biggest gains are seen 9-15 months post halving. Which would put the biggest gains in the middle to end of 2021.
Historically, that part of the move doesn't happen until 12-15 months post halving. I think we see $100k by end of 2021.
Sounds like this is the dip to buy @jrcornel.
Posted via Steemleo
Yep, exactly. Buying any dips at this point likely yields nice returns over the next 18 months.
Golden cross got me feeling good over here!
Yep, just another arrow in the bull-case quiver!
Golden cross, trapped shorts, Alex Jones going bullish, everything going our way.
Dare I say... everything is going TOO GOOD?!
Buffet and Schiff both bad mouthing bitcoin again, which is always a good sign.
Yeah, I had that feeling that things were too good late last week and should have moved on it. It would have been a great weekend it I had.
Well it may not matter in a few days. Already taking back half of the drop...
Don't forget Keiser raising his price target for the first time in 8 years to $400k.
Thanks for the news
You got it.
good job
Thanks.
I'm optimistic. Let's see how things will pan out
The cross has now officially happened. The coming months should have more good things in store for bitcoin!