Bitcoin Potential Golden Cross Signals Upward Movement
Monday, 22 April 2024, 13:30
Bitcoin Potential Golden Cross Signals Upward Movement
Bitcoin's price, currently close to $66,000, is poised for a potential rally towards $70,000 amid accumulating investor interest. The formation of a Golden Cross on the Exponential Moving Averages chart suggests a bullish uptrend. However, the possibility of a price fall remains if selling pressure increases.
- Investors accumulating 9,000 BTC worth nearly $600 million indicate bullish sentiment
- Anticipation of the halving event boosts investor optimism towards BTC
Golden Cross formation on the EMA chart may lead Bitcoin to approach the target price $70,000 as the 50-day EMA nears a crossover with the 200-day EMA.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.