Latest Bitcoin news has been on an upward ride since late 2020. After falling to its lowest level last year, BTC has rallied with an incredible momentum to lift past the $10,000 mark. This impressive run has turned heads and made people rush to the market to catch some of the action. Those who were able to cash in made handsome profits. Those who remain face an uncertain future. Mixed signals keep investors guessing where the market will go in the next few days. All one can do is to read the latest Bitcoin news and make decisive actions once there is a clear indicator.
The Golden Cross
Much of the bullish sentiment is due to the intertwining of two major indicators, the 50-day Moving Average and the 200-day Moving Average. The 50MA used to lag behind but now it has finally caught up to the 200MA. This traditionally signals a long-term recovery that could push the bulls even further. That’s why it is dubbed as the Golden Cross. Research analysts and other industry observers have been calling the attention of traders to this phenomenon. They say that this is the right time to act if you want to jump into the next rally. After all, it is exactly what happened the last time they saw a convergence.
Actual Trading
Whether the cross will actually convince enough people to stay bullish is yet to be seen. So far, this news has not been able to keep the price up during the European trading. The Asian trading may be the key to seeing a rise to have the price bounce back up above $10,000 and possibly higher. If it not able to maintain the momentum, then people will be checking whether the support lines are able to hold. It is interesting to see it try to stay up the $9,700 mark. Other indicators such as the 5MA and the 10MA has just seen a crossover that strengthens the bearish sentiment.
Timing the Market
Those who missed the opportunity last December to jump to the party can still get into Bitcoin in anticipation of even higher prices in the near future. However, they have to time their entry carefully since the value is already significantly higher than it was two months ago. Dips like the one in the chart provides a nice entry point when the price eventually provides a bounce back. A lot of people sold their position after BTC crossed $10,000 so there needs to be another stimulus to keep people interested.
