Bitcoin’s golden cross lasted less than a week before reversing.
That sounds bearish, but I wouldn’t rush to call the cycle dead.
The 50D moving average slipping back below the 200D came as $BTC pulled from around $79.8K to $77.4K, while rate-hike expectations have suddenly jumped above 80% ahead of next week’s Fed meeting.
The interesting part is that golden crosses this tight can need multiple attempts before they actually hold.
And the last three completed golden crosses were followed by roughly 50%, 45% and 60% gains.
So for me, the signal isn’t invalidated yet.
$BTC may simply be testing whether this recovery has enough strength to survive the macro pressure.
That sounds bearish, but I wouldn’t rush to call the cycle dead.
The 50D moving average slipping back below the 200D came as $BTC pulled from around $79.8K to $77.4K, while rate-hike expectations have suddenly jumped above 80% ahead of next week’s Fed meeting.
The interesting part is that golden crosses this tight can need multiple attempts before they actually hold.
And the last three completed golden crosses were followed by roughly 50%, 45% and 60% gains.
So for me, the signal isn’t invalidated yet.
$BTC may simply be testing whether this recovery has enough strength to survive the macro pressure.
