Bitcoin Primed To Repeat Bullish Crossover From Epic 2016 Rally After 8 Years of Wait — Here’s What You Need to Know

Bitcoin Etf Bitcoin Price

09.01.2024 - 22:25

Reading now: 287

cryptonews.com:

Bitcoin ETF hype is currently pushing prices higher, but behind the scenes, a key indicator is flashing bullish with the potential to spark additional gains. After an absence of over 8 years, analysis shows the Bitcoin price is preparing to repeat a rare bullish chart pattern not seen since its epic rally in 2016.

A key moving average crossover is in the works according to popular crypto analyst Moustache, hinting Bitcoin could be on the cusp of major gains. Specifically, on the 3-week timeframe, Bitcoin’s 21-period exponential moving average (EMA) is currently attempting to cross above its 50-period simple moving average (SMA).

#Bitcoin (3W)$BTC is about to make a golden cross in the 21EMA/50SMA.

The last time we saw something like this was almost 8 YEARS ago (2016).

– In addition, the "buy signal" in the super indicator

Watch out for the rare signals.

Read more on cryptonews.com

All news from cryptonews.com

About this in other media

Budget 2024 expectation: From Intellectual Property laws to startup relaxations; here's what gaming industry expects livemint.com /3 months ago

Eternal Wisdom of Ramayana: What youngsters can learn from Maryada Purushottam Lord Ram economictimes.indiatimes.com /3 months ago

Bitcoin ETFs come with risks: Here’s key things you should know economictimes.indiatimes.com /3 months ago

The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.