Bitcoin technicals: Incoming ‘golden cross’ presents potential bottom for BTC...
However, some crucial Bitcoin price levels must be broken before the bullish party can start. Bitcoin (BTC) and the cryptocurrency market had a shakeout this week as the fake news surrounding Litecoin (LTC) caused a spike in volatility. However, the structure of the market didn’t change. In fact, Bitcoin’s price might be bottoming out as a golden cross is starting to form.Next to that, the exchange reserves are hitting record lows, which is a massive signal of strength, suggesting that most investors are taking their Bitcoin from exchanges, reducing the overall supply that can be sold on....
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In this episode of NewsBTC’s daily technical analysis videos, we examine how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 29, 2022 Using the Fibonacci retracement tool not for retracement but for extensions, we have found a golden discovery using math. Related Reading: Bitcoin & The Global Currency Meltdown | BTCUSD September 28, 2022 Did Bitcoin Bottom At The Golden Ratio? In Elliott Wave Theory, corrections come in ABC patterns. Taking the....
Bitcoin (BTC) is showing signs of repeating a historic Golden Cross pattern that led to a long-term parabolic run. While the cryptocurrency’s recent pullback near the $100,000 region may have alarmed the crypto market, analysts suggest that this move is part of a broader trend that could push BTC to its next price high. Golden Cross Formation Pits Bitcoin At $150,000 Bitcoin has once again flashed a classic bullish signal, the Golden Cross, prompting renewed optimism for a major price rally in the coming months. According to a technical analysis by ‘Chain Mind,’ a crypto analyst on X....
Ethereum (ETH), the second-largest cryptocurrency by market cap, is up 9.9% over the past week. Recent analyses suggest the digital asset may continue its bullish momentum in the near-term. Ethereum Flashes Golden Cross According to a recent X post by crypto analyst Titan of Crypto, Ethereum has formed a golden cross on the daily chart. A golden cross typically precedes significant price rallies, and the continuation of this bullish price action could push ETH beyond $2,000 soon. Related Reading: Ethereum Nears ‘Critical Zone’ Historically Linked To Market Bottoms – Is A Rebound Incoming?....
Bitcoin and other assets often develop support and resistance around Fibonacci levels, either through extensions or retracement. The ratios are based on the Fibonacci sequence, which has ties to the Golden Ratio. With the top cryptocurrency so tied to mathematics, the Golden Ratio could provide clues as to where Bitcoin is in its latest market […]