Bitcoin (BTC) has just struck a combination of signals on which traders generally keep an eye on the main high trends. The major cryptocurrency had a rare “Bull Run combo” on the graph this week – a golden cross on the daily delay, associated with a solid rebound on a level of support around $ 95,488.
The golden cross occurred when the 23-day mobile average has moved above the 200-day mobile average. It is a classic technical model that marks a change in the longer term momentum until the increase. This crossover cannot promise to win, but it often attracts the attention of traders who focus on the momentum and look at the situation as a whole.
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At the same time, BTC's price has again tested the $ 95,488 area – a level that has now proven to be solid support. The price plunged into this area after last week's rally, but was held stable, which suggests that buyers intervene to defend this range.
As of May 4, Bitcoin was negotiated just below $ 95,500. From a price point of view, there was a certain hesitation around the $ 96,000 mark during recent sessions, but the overall trend is still optimistic because BTC is negotiated well above the rupture area around $ 94,200.
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Support levels are still there, $ 91,000, $ 90,288 and $ 89,738. If the price drops more, these are good places to watch. These areas could give us some breathing during consolidation without spoiling the overview.
When you put all this together, this mixture of long -term and short -term resistance gives Bitcoin a solid technical basis. The current configuration is more optimistic than improbable, and although it can lead to a new escape or more of movement laterally in the short term, it is certainly not worth ignored.
