Yesterday (February 9th), Bitcoin saw a sharp decline.-4.98%The crypto market recently registered a low at the $21.600 level. A major technical signal at the beginning the week could have an impact on the direction of BTC prices in the coming days, or even weeks. Indeed, “Golden Cross” It has been confirmed by several exchanges (Binance Kraken Kucoin), and it could also form in CFD markets. This is one of the most popular bullish technical signals that market players can recognize. It involves a crossing of two simple moving averages. The 50-SMA crosses above the 200 SMA from below.
In the 5 most recent Golden Cross events, BTC has increased by an average of +1400%. This is why it is important to note that Bitcoin’s last signal appeared in mid September 2021. Bitcoin fell briefly for a few more days before launching a bullish movement which led it to its peak on November 10. $68,925. The previous date was May 21, 2020. BTCUSD The company had seen a nearly doubling of its sales since then. 600% Before reaching its previous peak at $63,518 On April 13, 2020
The “Golden Cross” signal on BTC also…