For the first time since 2015, the Bitcoin price action has formed a “golden cross” pattern providing yet another signal that BTC is in a bull market. It also broke through the $5,600 price mark, setting a new 2019 high.
Golden Cross: Another Bullish Signal for Bitcoin
A golden cross chart pattern has formed for Bitcoin with the 50-day moving average (MA) crossing the 200-day MA for BTC to the upside.
Earlier on Tuesday (April 23, 2019), Bitcoinist had indicated that the golden cross pattern for BTC price was imminent. The golden cross, regarded as a “holy grail” pattern provides yet another sign that Bitcoin is entering a new bull market.
Late October 2015 was the last time a golden cross pattern appeared on the Bitcoin price chart. That moment also corresponded to the end of the 2014/2015 bear market phase which would later culminate in the massive bull-run of late 2017.
New Highs for 2019
The appearance of the golden cross comes at the time when Bitcoin has set another 2019 high, this time going beyond $5,600. BTC…