Bitcoin on the brink of a potential “golden cross”. Likely scenarios!

If so, the price of Bitcoin could rise above key resistance levels. Traders will be waiting for BTC to decisively break above $70,000, which could pave the way for further gains to $75,000 and beyond.

However, moving average crossovers are often criticized for being a lagging signal that can lure traders to the wrong side of the market.

If this happens, a golden cross could lead to a false breakout, where the price quickly jumps but fails to maintain the upward momentum, eventually leading to a pullback. This outcome could be possible if broader market conditions remain unfavorable.

In some cases, a golden cross can precede a temporary pullback before a rally begins. This can happen if traders take profits in the short term, leading to temporary bearish pressure. However, after the initial drop, the market could regain momentum, sending prices higher.