Golden Cross Approaches and JPEGs Come to Bitcoin
Feb 3, 2023
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Golden Cross Approaches
The golden cross is a commonly used technical indicator. It is characterized by the intersection of two moving averages, where a short-term average crosses above a long-term average. The most commonly used moving averages are the 50-day and 200-day. This crossover pattern is widely interpreted as a signal of a potential trend reversal from bearish to bullish, suggesting an upward momentum in the asset's price.
As demonstrated by the chart below, bitcoin’s 50-day ...