On June 19, Bitcoin made a death cross which is the 50 day short term moving average crossing below 200 day long term moving average.
On July 25, the price started trending up and crossed above 50 day moving average and today it crossed the 200 day moving average as well.
The 50 day moving average has started trending back up. If price keeps rising at this rate then it will cross back above 200 day average. This is called a golden cross and it could be happen in 1 week to 10 days time.
Golden cross is one of the strongest signs of a new bull cycle. When it happens so soon after death cross, it shows the bulls were just taking a little break and now they're back in business.
A face melting pump is on the way. It will make 2013 and 2017 bull cycles seem like nothing.
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