The Bitcoin (BTC) price chart prints a bullish signal on its price chart.
The pioneer crypto asset sees a golden cross formation, pointing to historic pumps.
Will BTC surpass its old ATH and set a new one during this surge?
The crypto market seeing a bullish start to the weekly charts. With the price of Bitcoin (BTC) back up over the $64,000 price range, positive sentiment has flooded the crypto market propelling the price of almost every other altcoin in the market.
Bullish Bitcoin Recovery Underway
Presently, the sentiment is so bullish that the Crypto Greed and Fear Index is back up to the Greed range with a score of 56. This is incredibly bullish at the meter pointed to 34 yesterday and 25 the day before marking Fear and Extreme Fear sentiment just 2 days ago.
For many wondering what could have pushed Bitcoin’s sluggish sideways movement into a bullish green surge, one analyst observes a possible reason for the flip. As we can see from the post below, the Bitcoin chart has printed a bullish signal.
https://twitter.com/Eljaboom/status/1827039748407402954
Based on the chart shared in the post above, it seems that Bitcoin (BTC) has formed a golden cross on its price chart. This is a highly bullish sign for the price fo Bitcoin as well as the greater crypto market.
Will BTC Set a New ATH This Pump?
Historically, the formation of a golden cross on any price chart is usually followed by a massive price pump leading to bullish surges that have taken crypto assets to set new all-time highs (ATHs).
Specifically, the last time the Bitcoin price chart printed a golden cross formation, the price of Bitcoin (BTC) pumped from $59,000 to $70.000 in just two weeks. This leads many analysts to speculate over Bitcoin’s next move. Will Bitcoin surpass the previous ATH in this pump and set a new ATH, or will we experience more sideways movement or another dip before a new ATH?
The post $64,000 Bitcoin Price Recovery Fueled by Golden Cross Formation, Will BTC Price Ride Towards $80,000 ATH? appeared first on Crypto News Land.
