Golden crossover

Hi John, thanks for coming here.

You must have seen that Bitcoin has created a golden crossover on the daily chart. The media and analysts eagerly anticipated the crossover to take place, which is considered as a bullish development for Bitcoin prices.

This indicator takes place when the 50 daily moving average (DMA) gets above the 200 daily moving average. This is a sign that the market is turning towards being more bullish. 

The opposite scenario that creates a golden crossover is the “death crossover”, which takes place when the 50-DMA falls below the 200-DMA.