Bitcoin's Golden Cross: Are Bulls in Control?

In short: Bitcoin has surged by 4% in just 24 hours, trading at $27,800 as of June 20th. Experts believe that the bullish trend is in its early stages and institutional investors are eager to capitalize on the trend. Crypto trader, Moustache, predicts that Bitcoin is about to enter a major bullish trend that has never been seen before due to the formation of the first golden cross of the Moving Average 20/200. However, there is still uncertainty about the sustainability of this momentum as there is significant resistance to overcome before the breakout can be fully confirmed.

Our quick analysis:
Bitcoin is back in the limelight with a recent surge in trading, showing a four percent surge in just 24 hours. This bullish momentum is catching the attention of institutional investors who are looking to capitalize on the trend. It's no surprise that crypto traders are keeping an eye out for the market's performance, particularly in light of the recent prediction by crypto trader, Moustache.His recent prediction suggests that BTC's Moving Average (MA) 20/200 is set to make a never-before-seen golden cross, leading many to speculate that a significant bullish trend is on the horizon.

A golden cross is an indication of a bullish trend where the 50-day moving average (MA50) crosses above the 200-day moving average (MA200). Moustache's prediction suggests that Bitcoin is about to enter a major bullish trend that has never been seen before, indicating the potential for a big green candle shortly.

Rekt Capital, a crypto analyst, has observed the current state of Bitcoin's price action and noted that while Bitcoin has broken out beyond the multi-month downtrend, there is still uncertainty surrounding the sustainability of this momentum. There is significant resistance that needs to be overcome before the breakout can be fully confirmed.

To confirm the sustainability of Bitcoin's breakout, Rekt Capital suggests looking for a weekly close beyond the downtrend. Bulls must maintain consolidation above the resistance level of $27,500 for Bitcoin's short-term bullish trend to continue.

With the cryptocurrency market gaining momentum and institutional investors taking notice, it remains to be seen whether Bitcoin will continue with this bullish trend. Whether it's bulls in control or another dip in the market is on the horizon, it's safe to say that traders will be keeping a close eye on BTC's Golden Cross.

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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.

Bitcoin is back in the limelight with a recent surge in trading, showing a four percent surge in just 24 hours. This bullish momentum is catching the attention of institutional investors who are looking to capitalize on the trend. It's no surprise that crypto traders are keeping an eye out for the market's performance, particularly in light of the recent prediction by crypto trader, Moustache.His recent prediction suggests that BTC's Moving Average (MA) 20/200 is set to make a never-before-seen golden cross, leading many to speculate that a significant bullish trend is on the horizon.

A golden cross is an indication of a bullish trend where the 50-day moving average (MA50) crosses above the 200-day moving average (MA200). Moustache's prediction suggests that Bitcoin is about to enter a major bullish trend that has never been seen before, indicating the potential for a big green candle shortly.

Rekt Capital, a crypto analyst, has observed the current state of Bitcoin's price action and noted that while Bitcoin has broken out beyond the multi-month downtrend, there is still uncertainty surrounding the sustainability of this momentum. There is significant resistance that needs to be overcome before the breakout can be fully confirmed.

To confirm the sustainability of Bitcoin's breakout, Rekt Capital suggests looking for a weekly close beyond the downtrend. Bulls must maintain consolidation above the resistance level of $27,500 for Bitcoin's short-term bullish trend to continue.

With the cryptocurrency market gaining momentum and institutional investors taking notice, it remains to be seen whether Bitcoin will continue with this bullish trend. Whether it's bulls in control or another dip in the market is on the horizon, it's safe to say that traders will be keeping a close eye on BTC's Golden Cross.