City Golden, county Cross Financial News

Bitcoin (BTC) briefly returned to $30,000 before the May 25 Wall Street open as range adherence lingered.

XRP has jumped by 5% in the past 24 hours, rising to $0.6109 as the crypto market enjoys a 2.5% gain today.

Indiabulls Housing Finance Ltd, part of the housing finance company, has rallied by about 50% in a month to hit a fresh 52-week high in August 2023 and the chart structure suggests that the rally may not be over yet. The stock rose from Rs 127 as on 27th July 2023 to Rs 188.70 which is the new 52-week high recorded on 28th August 2023 translating into gains of over 48% in a month. The housing finance company recorded a breakout above 130 levels from a falling trendline resistance in July 2023 from where it witnessed a steep rally which took the stock towards 170 levels at the beginning of August. The stock broke out last week after consolidating in a range where 170 acted as a resistance while on the downside 147 acted as a support in August. The housing finance company also recorded a Golden Crossover on the daily charts where the short-term moving average (50-DMA) crossed the long-term moving average (200-DMA) from below on 4 August 2023 on the daily charts. “Indiabulls Housing Finance stock on its daily charts has broken out of its falling trend line, along with a swing high breakout at 159 levels, making it a strong case for buy.

Golden Crossover is a useful technical pattern to identify potential opportunities for investing in stocks. On July 4, Tuesday, Trendlyne reported over 300 stocks that witnessed the Golden Crossover. From this extensive list, ETMarkets has handpicked 10 stocks that have demonstrated the formation of this pattern.

Bitcoin [BTC] managed to stay above $25,000 for a few days, which gave investors a reason to celebrate. As per CoinMarketCap, BTC was up by over 5% in the last 24 hours.

In light of the recent rally that has seen it surge more than 40% since the start of the year, Bitcoin is about to experience only its seventh so-called “golden cross” in the last 10 years. A golden cross is a technical event where the 50-Day Simple Moving Average (SMA) crosses to the north of the 200-Day SMA. Some technicians and traders interpret a golden cross as either a buy signal, or at least a sign that price momentum has shifted in a bullish direction.