Add as a preferred source on GoogleMerlijn The Trader Flags Bitcoin Three-Day Chart Setup.
He described Bitcoin as nearing the crossover, which compares shorter- and longer-term trends. His account of a previous death cross linked it to a later decline to $60,000.
Merlijn The Trader flagged a possible golden cross on Bitcoin’s (BTC) three-day chart, drawing attention to a technical setup that compares shorter- and longer-term price trends.
He described BTC as nearing the crossover, which occurs when a shorter-term moving average rises above a longer-term one. His description indicates the cross had not formed when he posted.
Golden crosses are often viewed as bullish signals, but moving averages reflect past prices and the pattern does not guarantee further gains. Merlijn also described Bitcoin’s previous crossover as a death cross that appeared in December and was followed months later by a decline to $60,000.
That earlier sequence does not establish what may follow the possible three-day crossover. TokenPost previously covered an earlier Bitcoin moving-average crossover.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.