Bitcoin will see a golden cross on the daily timeframe for the first time since September 2021, yet a death cross on the weekly timeframe for the first time ever

What are death crosses and golden crosses?

Death crosses and golden crosses comprise two separate lines called moving averages. Each moving average line (MA) is formed by calculating the average price over a certain period of time and using those points to create a smoothed line. The most common variant is to use the numbers 50 (representing the shorter term) and 200 (representing the longer time).

So, the golden cross is a technical pattern that occurs when the short-term average price (50) moves above a longer-term average price (200). If the short-term price is higher than the longer-term price, it generally indicates that recent sentiment around an asset's price is optimistic. By contrast, the death cross is a chart pattern that signals a growing weakness in an asset’s price, as the short-term average price (50) moves below the longer-term average price (200).

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Bitcoin's golden cross on the daily timeframe

Bitcoing is currently seeing a golden cross on the daily timeframe. The Bitcoin chart below shows the 200 day moving average in purple and the 50 day moving average in blue. I also highlighted the moments when this cross happened with green arrows.

This is the first golden cross on the daily timeframe since September 2021.

Bitcoin daily - golden cross! (200 MA purple, 50 MA blue)

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Bitcoin's death cross on the weekly timeframe

Yet on the weekly timeframe, Bitcoin is about to have the first death cross in Bitcoin's history, as the 50 week moving average will move below the 200 week moving average, either this week or next week. We escaped this moment from happening in 2015 with a huge pump. Currently, the 200 moving average sits at $24,923 while the 50 week moving average sits at $25,036.

Bitcoin weekly: Death cross incoming (200 MA purple, 50 MA blue)

Yeah I hope you like my expert TA analysis. No idea what to do. Crab?

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https://preview.redd.it/y3gy6iohcmga1.png?400&format=png&auto=webp&s=47067d28dac172f6034636b02bc23abcc87f5cc0