The price of Bitcoin is approaching the „golden cross“, will it finally reach $10,000?


The price of Bitcoin, the most important crypto currency,

  1. Bitcoin Lifestyle Scam
  2. Bitcoin Revolution Scam
  3. Crypto Trader Scam
  4. Bitcoin Code Scam
  5. Bitcoin Billionaire Scam

fell to $9,540 this Thursday, down 2.59%, away from the $10,000 mark as expected.

Ethereum (ETH), the second largest krypton currency by market capitalization, fell by a little less than 1.72% and again tested the critical level of $200, while the XRP is also trying to maintain a key level of $0.20.

Weekly chart

The weekly Bitcoin candlestick chart shows that trading is currently above $9,300, having recovered most of the 20% of last weekend’s fast selling, when support was close to the 20 week moving average.

The Moving Average Convergence/Divergence (MACD) illustrates the upward momentum and upward trend reversal since the sale in early March.

The volume has remained above the weekly average, subtracting two and a half days of trading, highlighting the upward response for the Bitcoin price to return to $9,000 after last week’s pre-sale decline.

Should the bulls break the resistance around $10,000, a relatively quick move to test the $11,500 and half the previous range would be the target, although Bitcoin has not traded at these prices since August 2019.

Daily chart

The daily chart shows that the BTC/USD is finding some support today at the $9,300 level after a sudden drop when the price approached $10,000. In other words, Bitcoin formed a lower daily high.

Last week, the 100-day and 200-day moving averages (MA) also acted as the first line of defense along with the 20-week MA. The 50-day average is on track to exceed the 100- and 200-day averages before the month ends.

The so-called „golden cross“ usually indicates to the market that it expects higher prices and will be positive for Bitcoin’s bulls. However, Bitcoin has a tendency to initially react adversely to this bullish signal.