The first golden cross in the history of BTC on the weekly chart 😮
50 WMA (🔵) broke from the bottom to the top of 200 WMA (🟢) and this is indeed the first time in all 15 years of the first cryptocurrency's existence. This pattern in trading is called a golden cross (🔴) and is considered a very bullish signal.
The nuance is that previously 50 WMA (🔵) never dropped below 200 WMA (🟢) until February 2023 and it was an abnormal bear market, which also resulted in the first time in history we saw a bearish death cross figure (⚫️). And, nothing...
So the golden cross is a good sign, but for now it just means a reversal of the previous anomaly.
And on the BTC price right now, it's the ETF news that decides everything. Twitter is already churning out (https://twitter.com/WuBlockchain/status/1744719662074728670) a wave of new census filings and listing date announcements in the event of a green light from the SEC.
Keep your head up and have plenty of popcorn ready 🍿
