the While the price of Bitcoin does not get tired to fight with the 8,000–U.S.-Dollar mark, the Community does not get tired to ask: Is the increase in the rate sustainable? Or we have it only with a well designed bull case to do? The Golden Cross is able to give answers.
By Phillip Horch
17. May 2019BTC$7.173,00 -9.99%part Facebook Twitter LinkedIn xing mail
One in front. With all the trouble that we give ourselves: The crystal ball, we have not found (still). Whether the Bitcoin-shoot course finally by the moon, or we give the bears but only feed by tapping the event in the Bull: With one hundred percent certainty we can say only in the morning, how high Bitcoin is going to be price. Nevertheless, it is fundamental as on the technical side, a number of indicators that give us a hint of future catch. Today: the Golden Cross [in English: cross of gold].
What is the Golden Cross?
The Golden Cross is an indicator of the traditional Trading, the Trading on the Bitcoin, and thus Bitcoin-price-predictions apply. We have to do it with a figure, which forms the counterpart to the Death Cross. (More in detail here).
The Golden Cross of two important signals: the short-term sliding cross average MA50 the long-term MA200 from below. The latter is, in turn, the average rates of the last 50 or 200 days. (Read more here).
Now the Golden Cross is a bullishes buy signal. The intersection of the two average values suggests an upward movement. Because overall, it is the MA200, due to its long-term nature of more importance. Crosses now the mean-value which is understood the other, as a reversal of the trend: The bears let the bulls.
How to recognise in the above Chart, the Bitcoin exchange rate the Golden cross currently. How one can, however, notice in the above Chart, is happening the end of 2015 already. Before that, it went uphill here, however, in the long term, the rate to cross the Golden Cross for a certain period of time. Then the cops gave themselves a long-term tryst.
another important indicator for the onslaught of the bulls: The Trading volume has increased within the last month continuously. Adhering to these indicators, which speaks for an early gasp of the Bitcoin exchange rate.
The Golden Cross and the price of Bitcoin: How secure is the indicator?
How often, in the field of Trading and chart analysis, we are also at the Golden Cross, the eye in the past to make forecasts for the future. What can we say: In the past, the Golden Cross rise proved to be a good indicator for a longer-term course. In the reverse retrospective, one can say: The Death Cross as a lot of bids due soon counterpart to the Golden Cross, initiated in March 2019 a negative Bitcoin rate history.
in Order to provide further guidance, here is worth looking at the bigger picture. As we with some certainty can say that The employment with crypto currencies for institutional investors is becoming increasingly more attractive. Here the assumption is that these are based on indicators such as the Golden Cross, is an adaptation of a traditional indicator to a new type of Investment and Trading vehicle.
However, the crypto-sector remains unpredictable. Sudden price slumps, as well as steep climbs at best, suspect. As long as we remain in search of the crystal ball.
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