RATE Group | Bitcoin golden cross could trigger rally to $13,800
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Bitcoin golden cross could trigger rally to $13,800

19 May Bitcoin golden cross could trigger rally to $13,800

Posted at 07:13h in Cryptocurrency News by

Here is what you need to know on Tuesday

Markets:

The cryptocurrency market is in the red two days in a row. On Monday, Bitcoin tried to overcome the seller congestion zone at $10,000. However, the price action hit a wall at $9,957 (current week high). Selling activities have dominated the market since then with Bitcoin bulls battling to keep the price above $9,500.

As the European session begins, Bitcoin is trading 1.89% lower on the day. The granddaddy of digital assets adjusted from $9,725 (opening value) to $9,533 (prevailing market value). BTC/USD is facing expanding volatility and a bearish trend according to the cryptocurrencies live rates.

Looking at the daily chart, Bitcoin is still holding within an ascending channel despite the retreat from $10,000. Moreover, a golden cross is likely to come into play with the 50-day SMA crossing above the 200-day SMA. With the proper volume, Bitcoin could rally above $10,000, renewing the desire to beat 2019…

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