Bitcoin sees golden cross which last hit 2 months before all-time high
A golden cross completes on the daily chart but Bitcoin still has to contend with a "death cross" on weekly timeframes. Bitcoin (BTC) lingered near $23,000 on Feb. 7 as a key chart phenomenon hit for the first time in 18 months. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Battle of the Bitcoin crosses begins Data from Cointelegraph Markets Pro and TradingView showed BTC/USD tracking sideways overnight, having shunned volatility at the week’s first Wall Street open. While failing to flip $23,000 to support, the pair nonetheless saw a potentially significant event on Feb. 6 in the form of a “golden cross” on the daily chart. This refers to the rising 50-period moving average crossing over the 200-period moving average. The last time that this occurred on daily timeframes was in September 2021 — two months before Bitcoin’s latest all-time high. BTC/USD 1-day candle chart (Bitstamp) with 50, 200MA. Source: TradingView The cross has been keenly watched by some cr...