Major bullish signal for Bitcoin imminent!

in #crytocurrency • 6 years ago

Bitcoin is looking very bullish at the moment. At the time of writing, according to Coinmarketcap (CMC) one bitcoin is now worth $USD5564.50. According to trading view, it is about to create a technical analysis phenomenon known as a golden cross, shown below:

Bitcoin.PNG

A golden cross formation is when the 50 day moving average price of an asset crosses the 200 day moving average price of the same asset. This is a bullish signal. It is a very positive sign for Bitcoin.

Its interesting to note that Bitcoin dominance is now over 53% at 53.2% on CMC. Volume is just over $USD51 billion at the time of writing, so it is still relatively low compared to the more than $USD80 billion volume when Bitcoin pumped from $USD4000 to $USD5000.

Do you think this is the start of the next parabolic bull run?

#crypto #bitcoin #bull #run
6 years ago in #crytocurrency by
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