For the third time in history, two important moving averages made a bearish intersection on the Bitcoin (BTC) chart. Paradoxically, this could be a very bullish signal! Historically, it has led to large increases and initiated an accumulation phase before the next bull market. Long-term moving averages like to stay away from each other.
In today’s analysis, we will look at their historical intersections, which gave interesting long-term signals for the BTC price. This is because it turns out that a bearish cross was a signal of reaching a bottom in historical bear markets. A bullish cross, on the other hand, gave reason to start another bull market. In confluence with these two moving averages is the so-called Coral Trend Indicator. This indicator also signals that the bottom of the current bear market.
