There we have it, a GOLDEN-CROSS in the Bitcoin daily chart!

This usually means that BTC is about to melt some faces.

But it does not mean, that there won't be another quick drop before the rally starts...

In Bitcoin, this signal can usually be interpreted as: bears have very limited time left to close their shorts, or get rekt hard. Just a 20% move up would liquidate most leveraged shorts. Liquidated shorts "auto buy" leveraged longs to close the position, which further increases the move up... This so called "short squeeze" can lead to FOMO very quickly.

Get ready for some action!

Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

Please consider leaving a comment, like or rehive, if this post entertained you or helped you see things differently...

Have a nice day :-)

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