- CryptoCon warned traders today that BTC may undergo a short-term correction.
- The analyst’s prediction comes after a Golden Cross formed on BTC’s daily chart.
- Despite the bearish outlook, CryptoCon believes that the Golden Cross may be validated after the correction.
The technical analyst CryptoCon warned in an X post earlier today that Bitcoin (BTC) may see its price drop in the short term. His prediction comes after a significant bullish technical flag, known as a Golden Cross, was triggered on the market leader’s daily chart.
By now I'm sure you've heard about the Golden Cross that just happened for #Bitcoin.What you probably didn't hear is what this is, or what comes after.
But don't worry, I've outlined every Golden Cross that's come outside of a bear market downtrend to show you!
This our… pic.twitter.com/ivhEAwyWAN
— CryptoCon (@CryptoCon_) October 30, 2023
A Golden Cross is when the 50-day moving average (MA) crosses above the 200-day MA line. Traders tend to identify this as a strong buy signal and a potential sign that a cryptocurrency’s long-term trend is transitioning to bullish. Recently, this bullish technical flag was triggered on th…
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