The Coinbase Premium index on the 1-hour timeframe shows the short-term momentum of Bitcoin. When the daily moving average strongly crosses above the weekly moving average, prices often experience significant volatility. In particular, when the slope of the weekly moving average shifts from negative to positive, the price increase after a "golden cross" is more pronounced.

Currently, the weekly slope has turned positive, and the daily moving average is approaching a golden cross with the weekly. Bitcoin is also forming higher lows and a converging triangle pattern. If demand is strong enough, the upward trend may continue.