Bitcoin's Golden Cross Nears as Price Remains Below Resistance
Bitcoin's price remains below $82,614 resistance as its 50 EMA approaches the 200 EMA. According to TradingView, the gap between Bitcoin's 50-day and 200-day exponential moving averages has narrowed from 3.17% to 0.93%, leaving a potential golden cross close but still unconfirmed.
Paul Howard, Senior Director at Wincent, expects that structure to support a gradual advance rather than a sudden breakout, saying 'Many hodlers are now less reactive to macro news,' linking the shift to longer investment horizons.
A $986.7 million of net inflows into US spot Bitcoin ETFs over the five sessions from August 31 through September 4 did not break the resistance band. The positioning maps closely onto the chart, with a first downside test at $75,338 and call-heavy zone beginning near the resistance BTC has not yet cleared.
The golden cross would confirm the improvement in trend, but a daily close above $84,400 is the price trigger that would open $98,068.26 and then $100,000 for Bitcoin's price to reach its target.