XRP, BTC dazzle with a rare golden cross, here's what it means Bitcoin XRPArmy $BTC $XRP
By definition, a golden cross is a chart pattern that occurs when a very short-term moving average crosses above a long-term moving average.
The golden cross implies the prospect of a long-term bull market emerging, as long-term indicators often carry more weight. High trading volumes tend to strengthen the indicator. Regardless, some analysts refer to golden crosses as"lagging" indicators, implying that the data required to create the pattern has already happened.
Though the golden cross may indicate a long-term bull market going forward, the truth remains that no indicator can truly predict the future. Many times, an observed golden cross produces a false signal, failing to manifest.After swaying for much of the previous day, Bitcoin has steadied back above $29,000. Previously, the market reacted to the DeFi debt crisis caused by Curve Founder Michael Egorov's asset liquidation moves.
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