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Bitcoin Chart Has Formed the Golden Cross: What Should We Expect from This Cryptocurrency?

24 April 2020, 13:10
Votes: 1

According to the latest and popular cryptocurrency news, the Bitcoin chart has made the Golden Cross – a graphical model when a short moving average crosses a long-term one on top. In addition to this, the virtual cash has broken through its price peak.

Bitcoin Chart Has Formed the Golden Cross: What Should We Expect from This Cryptocurrency?

The sudden jump of BTC price to $7500 became a surprising moment for investors and crypto traders. Its value reached $7775-level and then slightly decreased on Friday. These changes have attracted much attention as the situation may lead to a bullish indicator and, as a result, to drawdown.

How will Bitcoin act in the nearest future?

It seems that Bitcoin is going to continue its increase and traders constantly monitor curves to get a better understanding of its future behavior. It is obvious that many moves of this cryptocurrency are quite predictable and it keeps to one tendency now.

However, very often indicators don’t work correctly and provide inaccurate data. As all changes in a price chart usually need some time to be processed, traders refrain from simultaneous decisions on BTC. At the same time, several combinations may allow them to suppose how the price will change. For example, recent metrics show that this cryptocurrency has all chances to continue growing.

Read more: What are Bitcoin resistance levels?

Read more: Ethereum price and its calculation

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