Bitcoin forms 3-day golden cross, a signal that preceded 34% average gains
- —The 3-day 20-EMA is closing in on the 200-EMA, with a golden cross possible this week
- —The three prior signals produced gains of 50.73%, 18.38% and 32.23%, averaging 33.78%
- —Exchange reserves remain low and whale holdings have climbed to roughly 3 million BTC
- —Bulls need to clear $87,438 resistance to bring $90,000 back into view
Why it matters: A confirmed cross would reinforce the case for an October bottom, though it offers no reliable price target or timetable.
Source: Invezz