Bitcoin may have signaled a strong rise with a new formation it showed recently.A “golden crossover” occurred on the BTC weekly chart.

A golden crossover is also known as a bullish $BTC formation that is observed when an asset's short-term moving average rises above its long-term moving average.

This formation, which appeared on the Bitcoin weekly chart, became evident as a result of the 50-week moving average (MA) rising above the 200-week MA. This increased bullish expectations in the community and triggered various speculations.