Bitcoin is closer to a bullish crossover. Celebrate the beginning of a uptrend

Bitcoin continued the local upward movement after falling below $ 5,200 this morning. Now the main cryptocurrency is trading at $ 5055. It seems that the main resistance line is 5300 dollars, which the bulls were unable to overcome one jump.

Although today BTC showed a slight sagging, to its rise in price over the past few days has opened the way to the formation of interesting long-term chart indicators on cryptocurrencies for the first time, from October 2015 , we may be witnessing bullish crossover. Recall that this term refers to the crossing of moving averages of 20 and 200 SMA on the 1-day chart.

Bullrun inevitable

This week Bitcoin a few times, tested the line is 5300 dollars, and even jumps to 5400, but all attempts to gain a foothold above failed. However, since the beginning of April, the cryptocurrency has already done enough to attract much public attention.

The recent price movement of the asset was a prerequisite to forming a bullish crossover — the intersection of 20 and 200 SMA on the scale 1-day chart. Trader johnny Mo, believes “bullish cross”, the main sign that Bitcoin has already found its bottom.

BTC will soon go through its first bullish crossover from October 2015. Last time it took us two such events for the beginning of a global uptrend. I’m not one of those who publicly declares about the day, but the schedule is really going to turn.

Further — more.

It’s a bit accelerated version of the famous “Golden crossover,” which denotes the intersection of 50 and 200 SMA. Here’s how it looks. It’s located pretty far, but we are getting closer every day. Before the start of the uptrend in 2015, too, was formed by two “Golden cross”.

If the Mo predictions are true, traders and investors will soon be able to regain most of the losses that they brought bearish trend 2018. For other updates of the situation of the market watch in our cryptodata.


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