Bitcoin's Golden Cross, Ethereum's And Dogecoin's Bellwether Indicator: A Look At Cryptos Into The Weekend
Portfolio Pulse from Melanie Schaffer
Bitcoin, Ethereum, and Dogecoin were trading relatively flat on Friday despite the general market surge following the Federal Reserve's decision to hold interest rates steady. The cryptos have been consolidating near important technical levels, with Bitcoin trading under strong resistance at the $36,000 mark and Ethereum and Dogecoin moving horizontally above the 200-day simple moving average (SMA). A golden cross formed on Bitcoin's chart on Oct. 29, suggesting a strong bull cycle.
November 03, 2023 | 7:05 pm
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NEUTRAL IMPACT
Dogecoin has been consolidating near the 200-day SMA, indicating a potential larger move in one direction.
Dogecoin's consolidation near the 200-day SMA suggests potential for a larger move in one direction.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Ethereum has been consolidating above the 200-day SMA, indicating a potential larger move in one direction.
Ethereum's consolidation above the 200-day SMA suggests potential for a larger move in one direction.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Bitcoin has been consolidating near the $36,000 resistance mark. A golden cross formed on its chart on Oct. 29, suggesting a strong bull cycle.
Bitcoin's consolidation near a key resistance level and the formation of a golden cross on its chart suggest potential for a strong bull cycle.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100