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This article is also available in Spanish.
Bitcoin’s price campaign in the last 24 hours has been unusual. After a few days of consolidation in the scope of tightening, the market exceeded the resistance zone of USD 105 503 at the beginning of the week and began a steep climbing on the previous trade day. This allowed Bitcoin to press to novel high levels of all time, And it shows no signs of slowdown.
Interestingly, technical analysis shows that the rally is coming out Golden Cross approach From 50 to 200 days of average traffic, but FX_Professor offered a different view on a very celebrated Golden Cross.
The analyst questions the golden noise of Krzyżyna as a delayed signal
In the last Analysis published on TradingViewFX_Professor discussed a different approach to the Golden Cross Bitcoin. While the majority of market commentators interpret this 50-day cross-line movable average above 200-day as a mighty stubborn confirmation, the analyst rejected it as a delayed indicator. The analyst described this as an afterparty, in which retail investors come delayed to the stage.
Instead of waiting for the zloty Cross to Flash GreenFX_Professor noticed the pressure zones before Indicator as a real value signal. In the case of Bitcoin’s price, in recent months the analyst indicated the region 74 394 and 79,000 USD as an accumulation and early positioning zone, long before the perceptible Golden Cross. As such, before the cross appeared recently, the price of Bitcoin has already increased significantly.
The Golden Cross is often used by traders as a signal to introduce a long position, because it suggests that the price of assets will probably be continued. However, this analysis is in line with the trend among experienced traders who perceive the Golden Cross as a more delayed confirmation than the rally trigger.
The analyst claims that early entrance zones and structure are significant
According to FX_Professor, indicators such as EMA or SMA can be useful, but they should never get in front of understanding the price structure, trends and pressure zones in real time. He provided the shutter of his own Bitcoin price chart, which combines a custom EMA with a parallel -table signature method in order to detect, where it begins to build the price voltage. Perceptible on the chart there are entries that are forming in April, when Bitcoin The support of around $ 74,000 jumped backLong before confirmation of the crossover.
Now, with Bitcoin pressure towards the next target zone Near $ 113,000, the analytics strategy is still confirmed in real time. Nevertheless, the confirmation of the Golden Cross is still stubborn for Bitcoin’s price, even if the price rally is already in the middle of the summit.
At the time of writing, Bitcoin trades for 110 734 USD. This means a slight withdrawal from the novel highest all time in the amount of USD 111,544, which was registered only three hours ago. The price of bitcoins has ever increased by 3.1% in the last 24 hours, and the novel highest levels are possible before the weekly closure.
A distinguished picture from Getty Images, chart from TradingView.com
