“BTC Nears Golden Cross, As Moody’s DowNGrade Validates Bond Markets’ Conceerns About the Sustainability of the US Fiscal Debt.”, – WRITE: www.coindesk.com
Price Chart is echoing a bullish pattern that Forehadowed the Late 2024 Price Surge from $ 70,000 to $ 100,000 AMID MOUNTING CONCERNS OVERNS The Sustainability of the US Debt.
The Leading Cryptocurrency by Market Value Appears on Track to Confirm A “Golden Cross” in the Coming Days, accounting to charting platform Tradingview. The pattern Occursy of the 50-Day Simple MOVING AVERAGE (SMA) of Prices Crosses Above the 200-Day Sma to Suggest That The Short-Trem Trend Is Outperming The Broad. Major Bull Run.
The MOVING AVERAGE-BASED GOLDEN CROSS HAS A MIXED RECORD OF PREDICTING PRICE TRICE. The Impening One, However, Is Worth Noting Because It’s About to Occur Weeks After Its Ominous-Sounding Opposite, The Death Cross, Traped Bears on the Wrong Side of the Market.
A Similar Pattern Unfolded from August Through September 2024, Setting The Stage for a Convincing Move Above $ 70,000 in Early November. Prices Eventuly Set A Record High Above $ 109k in January this Year.
BTC’s Price Chart: 2024 VS 2025. (TradingView/Coindesk)
The chart on the left shows that btc bottomed out at around $ 50,000 in Early August Last Year as the 50-Day Sma MOVED BELOW The 200-Day Sma to Confirm The Death Cross.
In Other Words, The Death Cross Was A Bear Trap, Much Like The One in Early April this year. Prices Turned Higher in Subsequent Weeks, Eventuelly Beginning A New Uptrend After The Appearance of the Golden Cross in Late October 2024.
The Bullish Sequance is Being Repeated Since Early April, and Prices Could Begin The Next Leg Higher Following the Confirmation of the Golden Cross in the Coming Days.
PAST PERFORANCE DOES NOT GUARANTEE FUTURE Results, and Technical Patterns Do not Always Deliver as Expectored. That said, macro factors seem aligned with the Bullish Technical Setup.
Moody’s Amplifies US DEBT CONCERNSOn Friday, Credit Rating Agency Moody’s DowNGraded the US Sovereign Credit Rating from the Highest “Aaa” to “AA1”, City Conceerns Over the IncreASING NATIONAL DIGED.
The Bond Market Has Been Pricing Fiscal Concerns for Some Time. Last Week, Coindesk Detailed How Persenti Elevated Treasury Yields Reflected Expectations for Continued Fiscal Splurge and Sovereign Risk Premium, Both Bulish for Bitcon.
Read: BTC Boom Likely As Bond YIELDS SURGE
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