🚨 𝗕𝗜𝗧𝗖𝗢𝗜𝗡 𝗝𝗨𝗦𝗧 𝗙𝗟𝗔𝗦𝗛𝗘𝗗 𝗔 𝗕𝗨𝗟𝗟𝗜𝗦𝗛 𝗦𝗜𝗚𝗡𝗔𝗟 — 𝗕𝗨𝗧 𝗧𝗛𝗘 $𝟴𝟬𝗞 𝗧𝗘𝗦𝗧 𝗜𝗦 𝗡𝗢𝗧 𝗗𝗢𝗡𝗘 𝗬𝗘𝗧 👀 🚨 Bitcoin has just flashed an important technical signal.
The 50-day moving average has crossed above the 200-day moving average — a pattern commonly known as a 𝗚𝗼𝗹𝗱𝗲𝗻 𝗖𝗿𝗼𝘀𝘀.
That matters because this is the first such signal in more than a year.
But I would NOT call it a guaranteed bull run.
$BTC is still fighting around the $79K area, with $80K acting as an important psychological resistance.
𝗪𝗵𝗮𝘁 𝗜'𝗺 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴: • $80K breakout + hold = stronger momentum • $77K–$78K = important support zone • $83K–$84K = another major area to watch • Fed + inflation data could completely change sentiment
The signal is bullish.
The confirmation still has to come from price.
👇 Do you think $BTC breaks $80K this week?
$BTC
Educational content only. DYOR. Not financial advice.
Last week crypto market saw a strong move up, which pushed the price of the largest cryptocurrency, Bitcoin to $66,500 at highest.
This price is quite significant from a technical analysis perspective, as it exceeds the local top of $65,100 seen in August. This marks Bitcoin's first "higher high" in over six months. Combined with Bitcoin's first "higher low" made at the beginning of September, it depicts a possible beginning of a new uptrend.
To manage expectations, it may be useful to note that while a new upward trend could indeed be starting, it does not mean that prices cannot go lower in the short term. As crypto market has just seen a sharp rise over the past three weeks, some form of correction in the coming days or weeks would not be particularly surprising.
However, higher lows and higher highs are a significant shift in crypto market, and it will be interesting to see how high a potential uptrend would take crypto prices.