BCGAME - Free 5BTC Daily Bonus!- Bitcoin could start an explosive rally.
- September traditionally brings volatility to the market.
- Altcoins perform robustly alongside Bitcoin.
On Friday, September 2, the cryptocurrency community turned its attention to a rarely observed technical pattern in the Bitcoin market. The influential analyst known as the “Titan of Crypto” highlighted the formation of a golden cross between the 100-day and 200-day moving averages, a historically bullish indicator.
This phenomenon occurs when a shorter-period moving average, usually the 50-day, crosses above a longer-period moving average, such as the 200-day, signaling a possible long-term trend reversal to the upside.
However, the current event paints an even rarer picture, with the 100-day moving average crossing the 200-day moving average. Since 2014, this scenario has occurred only a few times, but it has always preceded significant movements in the price of Bitcoin, including a 170% appreciation after a death cross in late 2023.
“We are on the verge of possibly the most explosive bull run yet,” the “Titan of Crypto” said of the impending golden cross. Bitcoin’s golden cross is a trading signal based on historical price moving averages.
On the other hand, on September 3, analyst ‘CrediBULL Crypto’ presented a cautious outlook, suggesting a possible drop to the $56.000 level before any substantial recovery. This prediction aligns with the historical trend of September being a month of negative volatility for Bitcoin.
Amid this technical analysis, Bitcoin has seen a 2% growth in the last 24 hours, touching an intraday high of $59.810.
