Bitcoin Boom: Golden Cross is Coming?
Bitcoin (BTC) is about to experience another Golden Cross, which typical signals a significant rally. A Golden Cross happens when a short-term moving average crosses above the longer-term moving average. In BTC’s case the 100 day (MA) is about to cross over the 200 day (MA) on the three day chart.
One basic rule in Technical Analysis (TA) is that the longer terms are always stronger than shorter ones (Daily’s are stronger than hourly, Weekly ’s are stronger than Daily, Monthly is stronger than Weekly etc.). Most (Day) traders focus on the shorter time frames (Daily, hourly, minutes etc.), but those that don’t want that much daily stress in their lives “swing trade” the longer terms—while some “investors” focus on the: weekly, monthly and/or yearly time frames.
Perhaps it is just human nature to focus on the “news” of what is happening now in the shorter time frames. However, the stronger often more important trends of the longer time frames should not be ignored as that is what often surprises people when they are mostly looking at the present moment.
The 3 Day chart is not often talked about anywhere near as much as the shorter time frames, but as we will soon see there are times that it is worthy of our attention.
Disclaimer: This post is for informational and entertainment purposes only— it is not financial advice or is in anyway intended to provide any financial recommendation.
“Independent News Reporting by Ken Burridge”
Independent journalist, blockchain and sustainability activist, EV of the Year Judge, photographer, and author that has published over 1500 articles. Mr Burridge’s travels have taken him to over 40 countries and 300+ major cities. He is originally from the USA, but has been residing in Australia for the last eight years. Connect to Ken Burridge on: Twitter, steemit, facebook, minds, Linked in, Uptrennd, official website
