In recent days, Bitcoin has shown positive technical signals, drawing trader interest.
What is a Golden Cross?
Bitcoin's chart has displayed a rare 'golden cross,' where the 23-day moving average has crossed above the 200-day moving average. This classic technical pattern signals a potential shift in long-term momentum to the upside. While it does not guarantee price increases, it captures the attention of traders focusing on momentum.
Support at $95,488
Bitcoin has tested the $95,488 level again, which has proven to be a solid support area. After last week's rally, the price has remained above this point, indicating that buyers are stepping in to defend this range.
Future Prospects
Taking into account the current analysis, despite some hesitation around the $96,000 mark, the overall trend remains bullish. Support levels are still in place at $91,000, $90,288, and $89,738, which could support a continued positive trend during consolidation.
Overall, Bitcoin's technical signals create a solid foundation for potential growth. Stay aware of future market changes.
