{"id":548798,"date":"2023-02-07T11:21:46","date_gmt":"2023-02-07T08:21:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high\/"},"modified":"2023-02-07T11:21:46","modified_gmt":"2023-02-07T08:21:46","slug":"bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high\/","title":{"rendered":"# Bitcoin sees golden cross which last hit 2 months before all-time high"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e8a4d4d2e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e8a4d4d2e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high\/#%E2%80%9D_Bitcoin_sees_golden_cross_which_last_hit_2_months_before_all-time_high_%E2%80%9C\" >&#8221; Bitcoin sees golden cross which last hit 2 months before all-time high &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high\/#Battle_of_the_Bitcoin_crosses_begins\" >Battle of the Bitcoin crosses begins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high\/#Powell_speech_%E2%80%9Conly_key_factor%E2%80%9D_of_macro_week\" >Powell speech &#8220;only key factor&#8221; of macro week<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_sees_golden_cross_which_last_hit_2_months_before_all-time_high_%E2%80%9C\"><\/span>&#8221; Bitcoin sees golden cross which last hit 2 months before all-time high &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin (BTC) lingered near $23,000 on Feb. 7 as a key chart phenomenon hit for the first time in 18 months.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/e6e77325-9bb8-473c-a1d8-f5d7c6944643.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Battle_of_the_Bitcoin_crosses_begins\"><\/span>Battle of the Bitcoin crosses begins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> showed BTC\/USD tracking sideways overnight, having shunned volatility at the week\u2019s first Wall Street open.<\/p>\n<p>While failing to flip $23,000 to support, the pair nonetheless saw a potentially significant event on Feb. 6 in the form of a \u201cgolden cross\u201d on the daily chart.<\/p>\n<p>This refers to the rising 50-period moving average crossing over the 200-period moving average. The last time that this occurred on daily timeframes was in September 2021 \u2014 two months before Bitcoin\u2019s latest all-time high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/e794b93f-6d7e-41a2-aea9-e583e1eb1640.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp) with 50, 200MA. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The cross has been keenly watched by some crypto analysts, with Venturefounder, a contributor to on-chain data platform CryptoQuant, arguing that $25,000 could re<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear as a result.<\/p>\n<p>\u201cBitcoin goldencross just happened!\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/venturefounder\/status\/1622688391102881792\">summarized<\/a> in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> reaction. <\/p>\n<blockquote><p>\u201cThis potential correction could see BTC retest $20k (200DMA and key support), then in the bullish case, test $25k next. Make $25k support and it&#8217;s nail in the coffin for the bears.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/d53b0ba8-ca11-439e-8f27-4c5f846c0db1.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Venturefounder\/ Twitter<\/em><\/figcaption><\/figure>\n<p>The picture remained\u00a0complicated on the day thanks to an upcoming \u201ccountercross\u201d on weekly timeframes, where the 50-period moving average remained on course to drop below the 200-period one \u2014 a phenomenon known as a \u201cdeath cross\u201d for its conversely detrimental impact on BTC price action.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/3b8b0091-d3f5-40fd-b9e4-e41d89250ece.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp) with 50, 200MA. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>For on-chain monitoring resource Material Indicators, it remained uncertain as to whether the golden cross alone could propel BTC\/USD higher.<\/p>\n<p>\u201cWhether it&#8217;s enough to get a legit test of the $25k range remains to be seen,\u201d it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1622717164716261385\/photo\/1\">wrote<\/a> in part of commentary on the Binance order book.<\/p>\n<p>An accompanying chart showed major resistance in the form of ask liquidity stacked at $23,500 \u2014 the first major hurdle for bulls to overcome in the event of a move higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/0d853b38-feba-4db4-90a8-0af84b7f89c6.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Powell_speech_%E2%80%9Conly_key_factor%E2%80%9D_of_macro_week\"><\/span>Powell speech &#8220;only key factor&#8221; of macro week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Another factor on the radar for Feb. 7 meanwhile came in the form of comments from the United States Federal Reserve.<\/p>\n<p><strong><em>Related:\u00a0Is BTC price about to retest $20K? 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Ahead of next week&#8217;s macroeconomic data prints, multiple Fed officials were set to speak, with Chair Jerome Powell&#8217;s words expected to be the most significant in terms of market-moving potential.<\/p>\n<p>&#8220;Nothing special this week, the only key factor to watch is Powell tomorrow afternoon. Perhaps one more sweep for correction and then the party should continue rallying upwards,&#8221; part of Twitter analysis by Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1622591943086858242\">stated<\/a> on Feb. 6.<\/p>\n<p>Van de Poppe added that &#8220;buy the dip&#8221; might be an appropriate option on altcoins in the meantime, as Material Indicators noted was already the case with Bitcoin whales.<\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-sees-golden-cross-which-last-hit-2-months-before-all-time-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin sees golden cross which last hit 2 months before all-time high &#8220; Bitcoin (BTC) lingered near $23,000 on Feb. 7 as a key chart phenomenon hit for the first time in 18 months. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Battle of the Bitcoin crosses begins Data from Cointelegraph Markets Pro and TradingView&#8230;<\/p>\n","protected":false},"author":1,"featured_media":548799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/556c71bf-df83-4010-bd95-0cd301b004c2.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,78261,73785],"class_list":["post-548798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=548798"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/548799"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=548798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=548798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=548798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}