Bitcoin (CRYPTO: BTC) this week confirmed a daily golden cross, signaling its bear-market low may be in. But history suggests a sharp pullback could come first.
Prominent crypto analyst Kev Capital on Tuesday nothed that Bitcoin’s 50-day moving average has crossed above its 200-day moving average after more than 300 days in a bear-market trend.
Similar late-cycle golden crosses in 2015, 2019 and 2023 that coincided with Bitcoin’s bear market lows already being established.
In each case, Bitcoin had broken decisively above key daily moving averages before the golden cross appeared.
The analyst argued he still needs stronger confirmation that Bitcoin can decisively clear its major two-day moving averages in the $78,000 to $84,500 region.
