Quote from: Coolcryptovator on April 23, 2019, 01:05:07 PM

Quote from: Reid on April 23, 2019, 12:56:46 PM

Hi Pab.
I dont know anything about that Golden Cross.

Look like OP indicate this topic, [https://cointelegraph.com/news/bitcoin-almost-touches-5-600-forming-its-first-bullish-golden-cross-since-october-2015]Bitcoin Almost Touches $5,600, Forming Its First Bullish Golden Cross Since October 2015[/url]

Check out the post by HM on price movements after previous Golden Crosses

Quote from: HairyMaclairy on April 23, 2019, 11:23:40 AM

There have been 3 notable golden crosses before today on the 50/200 Daily Moving Average. They are as follows (look for where the red line 200 DMA crosses the yellow line 50 DMA from above).

Golden Cross in 2012
Price is flat during Golden Cross. Price up by ~ 60% 3 months later

Golden Cross #1 in 2015
Price is falling during Golden Cross. Price down by ~9% 3 months later

Golden Cross #2 in 2015
Price is rising during Golden Cross. Price up by ~45% 3 months later

Today's Golden Cross for comparison purposes
Price is rising during Golden Cross.

Analysis

So far, most traders seem to be assuming that today's Golden Cross will be like Golden Cross #1 in 2015, with the price crashing from resistance at $6k. But the mood in July 2015 was very different from today. Importantly, in 2015 the price had already started to crash before Golden Cross #1.

Today's Golden Cross most closely resembles Golden Cross #2 in 2015. Which suggests we could find ourselves with a price of increase of 45% within 3 months, which would be nudging $8,000 in July (and possibly a spike to 10,000 before that...)