The BTC makes us close to the optimistic golden cross as Moody downgrades us.
Bitcoin
The price chart is an optimistic pattern that for example, for example, from $ 70,000 to $ 100,000 in late 2024, with concerns about the sustainability of US debt.
According to the chart platform TradingView, leading cryptocurrency by market value appears in orbit to check “Golden Cross.” The pattern occurs when the 50 -day simple price moving average (SMA) exceeds the 200 -day SMA and the short -term trend is superior to the wider trend and the possibility of evolving into major bull runs.
Moving average -based Golden Cross has a mix of price trend predictions. However, it is worth noting that people who are imminent occur on the other side of the ominous sound after a few weeks later.
Similar patterns were developed from August to September 2024, setting a stage for more than $ 70,000 in early November. In the end, the price eventually recorded more than $ 1,090,000 in January of this year.
According to the chart on the left, the 50 -day SMA moves below the 200 -day SMA and checks the death cross, showing that BTC reached about $ 50,000 in early August last year.
In other words, the cross of death was a bear trap as in the early April of this year. The price has risen for weeks since the new rise in Golden Cross in late October 2024.
The strong sequence has been repeated since early April, and the price may begin to raise the next leg, depending on the Golden Cross confirmation for the next few days.
The performance of the past does not guarantee the future results, and the technology pattern is not always provided as expected. In other words, macroscopic factors seem to match optimistic technology settings.
Moody ‘s amplifies our debt concern
On Friday, credit rating agencies MOODY ‘S MOODY’s cited concerns about the increase of national debt, which is currently $ 36 trillion, by lowering the US sovereignty rating from “AAA” to “AA1”.
The bond market has set financial problems for a while. Last week, COINDESK explained in detail how the continuous financial yield reflects the expectation of the optimistic financial splager and sovereignty risk premium.
Reading: The BTC boom is highly likely to increase the number of bonds.
