Once beaten down, bitcoin aficionados are growing louder by the day.
On Tuesday, the best-known digital currency surged through $5,500, trading at a five-month high and homing in on key resistance around $6,000. And as momentum picks up, a closely watched bullish indicator suggests further gains are in sight.
“The technical picture for [bitcoin] is looking increasingly bullish on the daily charts with the fabled bullish ‘golden cross’ slowly coming into play,” said Lukman Otunuga, research analyst in a Tuesday note.
A golden cross occurs when the 50-day moving average crosses above the longer-term 200-day moving average, an infrequent event where…