Crypto
Bitcoin's Golden Cross Sparks Breakout Hopes as Price Eyes $82K
Bitcoin's price has formed a golden cross, a bullish indicator, while trading near $78,600. This crossover occurs when the short-term 50-day moving average surpasses the long-term 200-day average.
The signal is significant because it arrives alongside increased demand from exchange-traded funds (ETFs). Despite this, Bitcoin's price remains below the crucial resistance level of $79,500.
According to CoinMarketCap data, Bitcoin traded near $78,638 on September 9. Trader That Martini Guy has cited this level as a key point for a potential breakout, with a four-hour close above it potentially reopening the path to $82,000.