Bitcoin
The price table echoes a bullish scheme which foreshadows the price of the prices of the end of 2024 from $ 70,000 to $ 100,000 in the midst of increasing concerns concerning the sustainability of the American debt.
The main cryptocurrency by market value appears on the right track to confirm a “golden cross” in the coming days, according to the tradingView mapping platform. The scheme occurs when the 50 -day simple mobile average (SMA) of prices crosses the 200 -day SMA to suggest that the short -term trend surpasses the wider trend, with the potential to evolve into a major bull.
The Golden Cross based on the mobile average has a mixed record for pricing trends. Whoever is imminent, however, deserves to be noted because he is about to occur weeks after his opposite to the disturbing sounding, the death cross, bears trapped on the market side of the market.
A similar model took place from August to September 2024, preparing the field for a convincing movement above $ 70,000 in early November. The prices finally set a record greater than $ 109,000 in January of this year.
The left table shows that BTC succeeded at $ 50,000 in early August last year while the 50 -day SMA moved below the 200 -day SMA to confirm the death cross.
In other words, the death cross was a bear trap, a bit like the one in early April of this year. Prices increased in the following weeks, starting by starting a new upward trend after the appearance of the golden cross at the end of October 2024.
The upward sequence has been repeated since the beginning of April, and the prices could start the next leg following the confirmation of the Golden Cross in the coming days.
Past performance does not guarantee future results and technical models do not always deliver it as planned. That said, macro-factors seem to be aligned with the Haussier technical configuration.
Moody’s amplifies the concerns of American debt
Friday, the Moody’s credit rating agency lowered the US sovereign credit note from the highest “AAA” to “AA1”, citing concerns about the increase in national debt, which has now reached 36 dollars.
The bond market has been a tax price for tax concerns for some time. Last week, Coindesk detailed how high persistent yields of the Treasury reflected expectations for tax follies and the sovereign risk premium, both bitcoin.
Read: the BTC boom probably because the obligations give a push
