Bitcoin preps 'golden cross' which last sparked 170% BTC price gains
Bitcoin is dishing out the bull signals on lower timeframes, but can BTC price action overcome key resistance?
Bitcoin ( BTC ) kept up the pressure on overhead liquidity on May 17 as analysis eyed a new “golden cross” on lower timeframes.
![Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 0](https://img.bgstatic.com/multiLang/web/e8a769f3fc0216ebfdf0616d9fa816b9.webp)
Bitcoin chart bull signals stack up
Data from Cointelegraph Markets Pro and TradingView showed BTC price action lingering near its highest levels since mid-April.
Liquidity at $67,000 and above remained a force containing upside, this totaling around $75 million at the time of writing, per data from monitoring resource CoinGlass .
![Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 1](https://img.bgstatic.com/multiLang/web/490f2816f1d9846b98034a44c98ac897.png)
While still below both 2024 and 2021 all-time highs, Bitcoin nonetheless excited market observers, with popular pseudonymous trader Moustache highlighting two trendlines in particular.
“Golden Cross (12h-Chart) of $BTC is imminent,” he told followers in part of one of his latest posts on X (formerly Twitter).
A golden cross occurs when a shorter-term moving average crosses above a longer-term equivalent, with the last occurrence in October last year — just before Bitcoin put in the bulk of its latest gains.
“The last bullish cross was over six months ago. Bitcoin has risen by over 170% since then,” Moustache added.
![Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 2](https://img.bgstatic.com/multiLang/web/8ad2b1c9cdaf95cceed60e1ad623afcb.webp)
Fellow trader Titan of Crypto suggested that the Ichimoku Cloud indicator may copy the trend.
“BTC seems to be repeating the same pattern from early 2024,” part of an X post read on May 16, adding that BTC/USD put in upside of more than 60% when Ichimoku requirements were last met.
![Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 3](https://img.bgstatic.com/multiLang/web/8ad2b1c9cdaf95cceed60e1ad623afcb.webp)
Ichimoku Cloud reinforces $60,000 BTC price support
Continuing, Titan of Crypto was among those noting a transfer of $60,000 from resistance to support.
As Cointelegraph reported , that area contains various bull market trendlines, all now converging in one place.
Among them are the short-term holder realized price and the 100-day moving average, the latter rising swiftly and now above $62,000.
“BTC is perfectly flipping previous resistance into support,” Titan of Crypto summarized alongside an Ichimoku chart.
![Bitcoin preps 'golden cross' which last sparked 170% BTC price gains image 4](https://img.bgstatic.com/multiLang/web/63545fbae520a612f258bef8cf2c7040.jpeg)
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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