RATE Group | Bitcoin Forms Super Predictive Golden Cross as Price Hits $7.5K
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Bitcoin Forms Super Predictive Golden Cross as Price Hits $7.5K

24 Apr Bitcoin Forms Super Predictive Golden Cross as Price Hits $7.5K

Posted at 05:37h in Bitcoin News by

  • Bitcoin closed above $7-400-7,500 resistance Thursday, confirming its likelihood to extend its bull run towards $8,000.
  • The formation of a super predictive Golden Cross pattern hints a price rally to the upside is imminent.
  • The only nag is a Rising Wedge pattern that could lead its price below $5,500.

At last, bitcoin was able to break above the price ceiling that was keeping it from pursuing a more significant bull run.

The benchmark cryptocurrency jumped above $7,500 this Thursday in a surprising buying action that pushed the prices up by $704 in just three hours. It topped at $7,775 on Coinbase before correcting lower during the early Asian trading session Friday.

bitcoin, cryptocurrency, BTCUSD, crypto

BTCUSD maintains gains above red bar resistance | Source: TradingView.com, Coinbase

The crypto has been able to navigate through the heavy resistance labeled on the chart seen above. Nevertheless, the interim price rally paused for a breather, indicating that traders are waiting for a bullish continuation before they…

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