Bitcoin (BTC) and Wall Street's benchmark equity index, the S&P 500, are on the verge of hitting an easy-to-track bullish technical signal, the golden cross, that often makes traders giddy with delight.
"The winds of change have started to blow with the increasing likelihood of bullish golden crosses in the near future," analysts at Valkyrie recently noted in a newsletter, referring to the impending crossover on the daily bitcoin and S&P 500 charts.
Bitcoin will likely see its first golden cross since September 2021 in the next week or two, according to charting platform TradingView. Meanwhile, the S&P 500's averages appear on track to produce the golden cross on Thursday.
(By Omkar Godbole)
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