Bitcoin’s Golden Cross: The Late Arrival to the Party! 🎉💰

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Ah, the ever-elusive Bitcoin! In the past 24 hours, its price action has danced like a prima ballerina on a stage of volatility. After a prolonged waltz in a tightening range, the market, with all the grace of a caffeinated squirrel, leapt over the $105,503 support-turned-resistance zone earlier this week, igniting a steep ascent that has propelled Bitcoin into the stratosphere of new all-time highs. And lo! It shows no signs of slowing down, much like a toddler on a sugar high.

But wait! Technical analysis, that beloved oracle of the trading world, reveals that this rally is accompanied by the much-fabled golden cross between the 50 and 200-day moving averages. Yet, our dear FX_Professor, with a flair for the dramatic, offers a rather cheeky perspective on this celebrated phenomenon.

Analyst Disputes Golden Cross Hype As Late Signal

In a recent analysis that could rival a Shakespearean soliloquy, FX_Professor took to TradingView to share his thoughts on Bitcoin’s golden cross. While the majority of market commentators interpret this crossover as a robust bullish confirmation, our analyst dismisses it as a mere delayed indicator—akin to the afterparty where retail investors, bless their hearts, arrive fashionably late.

Instead of waiting for the golden cross to flash its green light, FX_Professor suggests that the real signals of value lie in the pre-indicator pressure zones. He points to the $74,394 and $79,000 regions as the true zones of accumulation, where savvy investors positioned themselves long before the golden cross made its grand entrance. By the time the cross appeared, Bitcoin had already taken a significant leap, leaving latecomers in the dust.

Traditionally, the golden cross is a siren call for traders to enter a long position, suggesting that the asset’s price is destined to rise. However, this analysis follows a trend among seasoned traders who view the golden cross as more of a lagging confirmation than a rally trigger. It’s like waiting for the applause after the curtain has already fallen.

Early Entry Zones And Structure Matter More, Analyst Says

According to our astute FX_Professor, while indicators like EMAs or SMAs can be useful, they should never overshadow the importance of understanding price structure, trendlines, and real-time pressure zones. He even shared a snapshot of his own Bitcoin price chart, a veritable work of art that combines custom EMAs with his signature parallelogram method to pinpoint where price tension begins to build. The chart reveals entries forming as early as April, when Bitcoin bounced off support around $74,000, long before the crossover confirmation made its appearance.

Now, as Bitcoin pushes toward the next target zone near $113,000, the analyst’s strategy continues to validate itself in real time. Yet, the confirmation of a golden cross remains bullish for Bitcoin’s price action moving forward, even if the price rally is already halfway to its peak level. It’s like being told you’re halfway to the buffet—exciting, but you still have to wait in line!

As I pen these words, Bitcoin is trading at $110,734, a slight pullback from the new all-time high of $111,544, which was registered just three hours ago. The Bitcoin price is still up by 3.1% in the past 24 hours, and new all-time highs are tantalizingly possible before the weekly close. So, grab your popcorn, folks! 🍿

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2025-05-23 02:19