Bitcoin has been releasing the “Golden Cross,” a bullish technical pattern with history preceding rallies, according to Crypto Market analyst Mister Crypto.
In a week Post In X, Analyst shared a chart that noticed Bitcoin’s (Btc.
“The prefunction seems incomplete -believed strong,” he wrote, adding that a confirmed breakout could “completely explode” the price of bitcoin in the coming weeks.
A Golden Cross is a trade trade signal that occurs when a short-term average move, usually 50-day, crosses above a long-term average transfer, often 200 days. This suggests that momentum is moving from bearish to bullish, meaning prices can start to rise.
Related: Luxembourg Sovereign Wealth Fund sinks in Bitcoin ETF with 1% stake
Bitcoin should hold $ 110k or cycle can end: Analyst
Crypto analyst Mac Also warned That bitcoin should hold the $ 110,000 level to avoid signing at the end of the current rotation. In an X post, he noted that the 4 -hour Money Flow Index (MFI) was “deep oversold,” suggesting that BTC could occur for a short -term bounce.
Mac added that the risk-to-reward setup looks desirable, even if he does not expect a major advances in the immediate term. Instead, he expects “a small upward chop next week.”
Meanwhile, Fundstrat co-founder Tom Lee believe The recent -only stock market pullback “could be overwhelming,” mentioned that markets have risen 36% since April and the fall of Friday is the largest in six months.
He featured a sharp increase in VIX, a measure of volatility on the market, spiked by 1.29%, calling it “the -51th largest spike in VIX,” suggesting that investors are looking for safety.
Lee argues that spike volatility is usually a sign of a short -term bottom of the market, as traders rush to the fence rather than sell. “If anyone said, ‘Are we higher a week from now?’ I will say that the odds are really good, ”he said.
Related: How high is the price of bitcoin in October?
Trump has announced 100% tariffs on Chinese imports
The latest market sale follows US President Donald Trump’s announcement that the US is the US Impose 100% tariffs on all Chinese Imports starting November 1, in revenge for new beijing export restrictions on rare mineral minerals.
China, which costs almost 70% of the global rare supply of land, recently introduced policies that require an export license for any product containing more than 0.1% rarely rare Chinese, which is set to begin December 1st.
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