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Could BTC’s Golden Cross Formation be a Trap?



The crypto winter seems to be coming to a close and Bitcoin has formed what is known as a ‘golden cross’. This is the first cross that has been formed since October 2015.

Essentially, what we’re trying to say, is that this is a pivotal point for the whole crypto space.

Before we go any further though let’s just clear a few things up.

Terminology

A moving average is an indicator that analyses different data points by generating a sequence of averages. If you look on Investopedia, they describe it as a tool which helps “smooth out price action by filtering out the ‘noise’ from random short-term price fluctuations.” This is because it follows a trend, it is based on past prices and can almost ‘predict’ the milestones in the market trend.

For those that don’t know about golden crosses, let us explain. When a short-term moving average passes above a long-term moving average signalling a potential bullish breakout, this is a golden cross. Many investors see this a very strong…



Read Full Story : Crypto Daily™

2019-04-24 21:30:00

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