Bitcoin is approaching a “Golden Cross”

Bitcoin / TetherUS BINANCE:BTCUSDT

AlexeyWolf

🚀 Bitcoin is approaching a “Golden Cross”
(the 50-day moving average is about to cross above the 200-day)

What does that mean, and what might come next?

📍 What’s happening right now

• BTC is squeezed in a $101 K – $107 K range.
  
• The 50-day SMA is racing toward the 200-day SMA; the bullish crossover (the “Golden Cross”) is expected within the week.
  
• On Deribit, more than 60 % of the 30 May option series are $110 K call options.
  
• When traders buy these calls, market-makers hedge by buying spot BTC. The nearer the price gets to $110 K, the more spot BTC they have to buy.
  

📈 How the market behaved before

• The 10-day chart shows the 50-day (blue) and 200-day (orange) SMAs.
  
• In the last three cycles, a bullish Golden Cross appeared 50–90 days after a bearish “Death Cross.” Each time, the cross formed inside a buyer zone (marked with blue rectangles).
  
• In the 2nd and 3rd cycles, price never came back to retest that buyer zone.
  
• Right now, the buyer zone is already in place, the Golden Cross is only about $300 away, and 50 days have passed since the last Death Cross. Some traders seem to be buying early, betting on a break to a new all-time high (ATH).
  

Wishing you profitable trades!

source https://www.tradingview.com/chart/BTCUSDT/P5IR0xTd-Bitcoin-is-approaching-a-Golden-Cross/