2024

Bitcoin

when

<p>The post <a href="https://coinpedia.org/news/bitcoin-forms-golden-cross-is-bull-run-coming/">Bitcoin Forms Golden Cross! Is a Bull Run Coming?&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin, the ever-changing giant of the cryptocurrency world, has once again grabbed the spotlight with a recent bullish signal: the elusive “Golden Cross” on its daily chart. This development, reminding us of earlier price spikes this year, has ignited speculation about potential upward momentum in the crypto market. </p> 
<p>But beneath the surface of excitement lies a landscape dotted with technical obstacles that Bitcoin must navigate to cement its short-term bullish sentiment.</p> 
<h2 class="wp-block-heading" id="h-the-golden-cross-emerges">The Golden Cross&nbsp;Emerges </h2> 
<p>Crypto trader Titan of Crypto highlighted Bitcoin’s recent “Golden Cross” on the daily chart, drawing parallels to earlier price movements in 2024. A Golden Cross occurs when a shorter-term moving average, such as the 50-day moving average, crosses above a longer-term moving average like the 200-day moving average. This signal is often interpreted as a bullish indicator for the cryptocurrency.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Golden Cross! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa99.png" alt="🪙" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> price action (PA) reminds me a lot of its PA early this year. A golden cross just occurred on the daily. <br><br>The lagging span <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;"> has to pass its price, Tenkan <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f534.png" alt="🔴" class="wp-smiley" style="height: 1em; max-height: 1em;">, Kijun <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f535.png" alt="🔵" class="wp-smiley" style="height: 1em; max-height: 1em;"> and the upper lime of the Kumo cloud to regain short term bullish momentum.… <a href="https://t.co/aJX8p8T1PC">pic.twitter.com/aJX8p8T1PC</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1789249329653268646?ref_src=twsrc%5Etfw">May 11, 2024</a>
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<p>However, technical shows that for <a href="https://coinpedia.org/news/michael-saylors-stark-warning-altcoins-face-regulatory-risks/" target="_blank" rel="noreferrer noopener">Bitcoin to show strong positive</a> momentum in the short term, it needs to overcome specific levels that are currently acting as obstacles. These levels include its price, the Tenkan (a short-term moving average), the Kijun (a longer-term moving average), and the upper line of the Kumo cloud (a key area on a chart indicating potential support or resistance).</p> 
<p><a href="https://coinpedia.org/price-analysis/bitcoin-price-consolidates-for-more-than-70-days-here-is-when-we-can-expect-a-bullish-breakout/">Bitcoin’s climb </a>is presently hindered by these technical barriers, as evidenced by its struggle to breach immediate price resistance. Successfully conquering these levels would not only signify a resilient Bitcoin but also bode well for imminent price upticks.</p> 
<h2 class="wp-block-heading" id="h-charting-the-course-ahead">Charting the Course Ahead </h2> 
<p>Despite the bullish signal, Bitcoin’s price is encountering resistance due to technical factors, particularly the lagging span’s position relative to critical levels. Hence, the <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin price</a> may continue to trade within the range of $60,900 and $61,400 for some more time, but beyond that, another bearish spell appears to be imminent.&nbsp;</p> 
<p>The cryptocurrency is poised to break through these barriers, which could pave the way for further price appreciation.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/news/bitcoin-price-tumbles-to-60890-expert-predictions-on-the-next-big-move/">Bitcoin Price Bloodbath: Is Your Crypto Portfolio Doomed? Here’s What’s Next</a></p> 
<p><strong>We value your opinion! Do you think another bearish spell for Bitcoin is likely? Why or why not?</strong></p>

Bitcoin Forms Golden Cross! Is a Bull Run Coming?

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