Bitcoin retests golden cross, a break above could trigger major rally: Analyst

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Bitcoin is retesting the “golden cross,” a bullish method signifier that has historically preceded rallies, according to crypto marketplace expert Mister Crypto.

In a Sunday post connected X, the expert shared a illustration noting that Bitcoin’s (BTC) erstwhile aureate crosses led to gains of 2,200% successful 2017 and 1,190% successful 2020. With BTC presently hovering adjacent $110,000, helium suggested that holding supra the level could ignite different parabolic move.

“The setup looks incredibly strong,” helium wrote, adding that a confirmed breakout could “absolutely explode” Bitcoin’s terms successful the coming weeks.

A golden cross is simply a bullish trading awesome that happens erstwhile a short-term moving average, usually the 50-day, crosses supra a semipermanent moving average, often the 200-day. It signals that momentum is shifting from bearish to bullish, meaning prices whitethorn commencement rising.

Bitcoin indispensable clasp $110K oregon rhythm could end: Analyst

Crypto expert Mac besides warned that Bitcoin indispensable clasp the $110,000 level to debar signaling the extremity of the existent cycle. In a station connected X, helium noted that the 4-hour Money Flow Index (MFI) is “deeply oversold,” suggesting that BTC could beryllium owed for a short-term bounce.

Mac added that the risk-to-reward setup looks favorable, though helium doesn’t expect a large surge successful the contiguous term. Instead, helium anticipates “a small much upward chop adjacent week.”

Meanwhile, Fundstrat’s co-founder Tom Lee believes the caller banal marketplace pullback “may beryllium overdue to an extent,” noting that markets person risen 36% since April and that Friday’s driblet was the biggest successful six months.

He highlighted the crisp emergence successful the VIX, a measurement of marketplace volatility, which spiked by 1.29%, calling it “the 51st largest ever spike successful the VIX,” suggesting that investors were seeking safety.

Lee argued that the volatility spike is typically a motion of a short-term marketplace bottom, arsenic traders unreserved to hedge alternatively than sell. “If idiosyncratic says, ‘Are we higher a week from today?’ I’m going to accidental the likelihood are really truly good,” helium said.

Trump announces 100% tariffs connected Chinese imports

The latest marketplace sell-off followed US President Donald Trump’s announcement that the US volition impose 100% tariffs connected each Chinese imports starting Nov. 1, successful retaliation for Beijing’s caller export restrictions connected uncommon world minerals.

China, which accounts for astir 70% of planetary uncommon world supply, precocious introduced rules requiring an export licence for immoderate merchandise containing much than 0.1% Chinese-sourced uncommon earths, acceptable to statesman Dec. 1.

Magazine: Worldcoin’s little ‘dystopian,’ much cypherpunk rival — Billions Network

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