Historical Signal Suggests Bitcoin (BTC) Could Go Crazy in Coming Weeks: InvestAnswers

A popular crypto analyst posits that if two key indicators cross, Bitcoin (BTC) price action could start within a few months.

In a new update, the anonymous moderator of InvestAnswers tells his 444,000 YouTube subscribers that if the 50-week moving average returns to the 200-week moving average, Bitcoin is likely to rise.

In technical analysis, this is known as the “golden cross,” which occurs when a short-term moving average rises above a long-term moving average. A gold cross, which is the opposite of a death cross, indicates the beginning of a sustained uptrend.

The crypto analyst anticipates that the Golden Cross will happen sometime in August.

“But what’s important here is when we cross the 200 week mark with the 50 week mark, and never before – we were close in late 2015 – but never before have we actually crossed the red moving 200 -week moving average with the green line broken.” , which is the 50-week moving average.

What we’ve been through is a death cross. The interesting thing is that the death cross doesn’t necessarily mean the market is going down, and we’ve talked about that before. So you can see when that death cross actually happened, the market fell, but only for a few days, and then right back up. it was crazy

But for now… sometime in August 2023, that green will pierce the red, and that means we’re going insane typically 65-70% of the time when we get a gold cross, the short-term crossing of the longer-term line. So this could be good. And you know, August is usually a quiet time in the market, with low volume, participants are somewhere else on the beach or whatever, but that could be another catalyst that we’re keeping an eye on going forward.”

Bitcoin is trading at $27,025 at the time of writing, down 3% over the past 24 hours.

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