Golden Bitcoin crossover occurs: Analyst reveals the best trend to work on...

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There has been nothing noticeable in the evolution of the price of Bitcoin over the past twenty-four hours. After consolidating for several days within a narrow range, the market crossed the support zone that turned into resistance at $105.503 at the beginning of the week and began to rise and flew into the sky on the last trading day. This has allowed Bitcoin to rise to a new historic high and there are no signs of slowing down. Interestingly, technical analysis shows that this price increase is due to the golden crossover between the 50-200-day moving averages, but FX_Professor provided a different view on this famous golden crossover. Analyst argues over Golden Cross amplification as late signal In a recent analysis published on TradingView, FX_Professor discussed a different view on Bitcoin's gold crossover. While most market commentators interpret this crossover of the 50-day SMA line on the 200-day line as a strong signal to confirm the rise, this analyst dismisses it as a late signal. The analyst described this as a subsequent ceremony, where retail investors come late. Instead of waiting for the shiny gold to cross green, the FX_Professor points to the pressure zones before the indicator as a signal of the true value. In the event of the price movement of Bitcoin in recent months, the analyst pointed to the $74,394 zone and the $79,000 zone as the consolidation and early identification zones, before the gold crossover appeared. So, at the time the crossover appeared recently, the price movement of Bitcoin has risen significantly. Traders often use the Golden Cross as a signal to enter a long position, as it indicates that the price of an asset is likely to continue to rise. However, this analysis follows the trend among experienced traders, who see the golden crossover as a late confirmation and not a bullish catalyst. Areas that joined early and the most important structures, according to the analyst according to FX_Professor, indicators such as EMA or SMA can be useful, but they should never precede understanding of the price structure, trend line, and pressure zone in real time. He shared a snapshot of his own Bitcoin price chart, combining a custom EMA with a distinctive hexagonal shape method to discover where price pressures begin to form. It can be seen on the chart that the first entry points are forming in April when Bitcoin rose from the support level around $74.000, very long after confirming the crossover. Now, as Bitcoin approaches the next target zone near $113,000, the analyst's strategy continues to prove correct over time. However, the confirmation of the golden cross is still a positive signal for Bitcoin prices in the future, even if the increase has gone halfway to the top. At the time of writing, Bitcoin is trading at $110,734. This represents a slight decline from a new historic high of $111,544, which was recorded just three hours ago. The price of Bitcoin is still high of 3.1% over the past 24 hours and may reach a new historic high before the week's close.
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