Bitcoin’s price action in the past 24 hours has been nothing short of remarkable. After consolidating for several days in a tightening range, the market broke past the $105,503 support-turned-resistance zone earlier in the week and kicked off a steep climb in the past trading day. This has allowed Bitcoin to push into new all-time high levels, and is showing no signs of slowing down. Interestingly, technical analysis shows the rally comes off an approach of a golden cross between the 50 and 200-day moving averages, but FX_Professor offered a different take on the much-celebrated golden cross. Analyst Disputes Golden Cross Hype As Late Signal In a recent analysis published on TradingView, FX_Professor discussed a different take on Bitcoin’s golden cross. While most market commentators interpret this crossover of the 50-day simple moving average above the 200-day as a strong bullish confirmation, the analyst dismissed it as a delayed indicator. The analyst described it as the afterparty where retail investors arrive late to the scene. Related Reading: Golden Ratio Multiplier Called Bitcoin Top In 2021 – Here’s W ..
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