Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin preps 'golden cross' which last sparked 170% BTC price gains

Bitcoin preps 'golden cross' which last sparked 170% BTC price gains

CointelegraphCointelegraph2024/05/17 15:16
By:William Suberg

Bitcoin is dishing out the bull signals on lower timeframes, but can BTC price action overcome key resistance?

Bitcoin ( BTC ) kept up the pressure on overhead liquidity on May 17 as analysis eyed a new “golden cross” on lower timeframes.

Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 0
BTC/USD 4-hour chart. Source: TradingView

Bitcoin chart bull signals stack up

Data from Cointelegraph Markets Pro and TradingView showed BTC price action lingering near its highest levels since mid-April.

Liquidity at $67,000 and above remained a force containing upside, this totaling around $75 million at the time of writing, per data from monitoring resource CoinGlass .

Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 1
BTC liquidation heatmap (screenshot). Source: CoinGlass

While still below both 2024 and 2021 all-time highs, Bitcoin nonetheless excited market observers, with popular pseudonymous trader Moustache highlighting two trendlines in particular.

“Golden Cross (12h-Chart) of $BTC is imminent,” he told followers in part of one of his latest posts on X (formerly Twitter).

A golden cross occurs when a shorter-term moving average crosses above a longer-term equivalent, with the last occurrence in October last year — just before Bitcoin put in the bulk of its latest gains.

“The last bullish cross was over six months ago. Bitcoin has risen by over 170% since then,” Moustache added.

Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 2
BTC/USD with golden cross events. Source: Moustache/X

Fellow trader Titan of Crypto suggested that the Ichimoku Cloud indicator may copy the trend.

“BTC seems to be repeating the same pattern from early 2024,” part of an X post read on May 16, adding that BTC/USD put in upside of more than 60% when Ichimoku requirements were last met.

Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 3
Source: Titan of Crypto

Ichimoku Cloud reinforces $60,000 BTC price support

Continuing, Titan of Crypto was among those noting a transfer of $60,000 from resistance to support.

As Cointelegraph reported , that area contains various bull market trendlines, all now converging in one place.

Among them are the short-term holder realized price and the 100-day moving average, the latter rising swiftly and now above $62,000.

“BTC is perfectly flipping previous resistance into support,” Titan of Crypto summarized alongside an Ichimoku chart.

Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 4
BTC/USD chart with Ichimoku data. Source: Titan of Crypto/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire

A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.

ForesightNews2025/11/29 18:52
Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire

Stacks Nakamoto Upgrade

STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.

雨中狂睡2025/11/29 17:51
Stacks Nakamoto Upgrade