Bitcoin Hits Golden Cross Volatility

in crypto •  last month 

In the past hour, BTC shot up $2k only to then dump $3k. Volatile? Yes. Manipulated? Of course.

Golden cross or golden shower? As I wrote in a previous post, BTC is about to hit the cross-over of the 50-day and 200-day SMA. This usually signals a return to a bull market - assuming it sticks.

BTC has been flat and trading within the envelope of these two moving averages for a week. Now is the time to reveal whether this is true gold or fool's gold. So, don't get caught in the volatility; decide now whether you need to do anything.

Back in February 2020, the Golden Cross then was a false dawn, followed by a dump in March. Only in late May did the rally really start. Yes, the plandemic effect took hold, so again, look out for any major breaking news to tilt this either way.

Look both ways when you cross the road.

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