Share this article
Golden Crossover: Bitcoin Charts Suggest Price Readying for Bump
The weekend rally in bitcoin's price may have come to a halt at $4,470 on Monday, but bullish signals hint at further gains.
Updated Sep 14, 2021, 1:56 p.m. Published Oct 3, 2017, 2:00 p.m.
The weekend rally in the bitcoin-U.S. dollar (BTC/USD) exchange rate may have come to a halt at $4,470 on Monday, but bulls appear to be crowding out the weak hands.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
over the last day suggests investors who lack the financial resources to carry their positions have been spooked by minor price changes. While this unwinding of speculative bets could have gathered pace, spreading uncertainty amongst a wider swathe of investors, that outcome now appears unlikely.
Moreover, the overall outlook remains constructive, given there are no signs of stress on the technical charts and indications that the number one cryptocurrency has already digested the bearish regulatory news out of China and South Korea.
Price action analysis today suggests that the digital asset is now ready to pop higher, having taken the 50-day moving average hurdle in a convincing manner over the weekend.
At press time, the digital currency is trading at $4,290 – down 2.85 percent in the last 24 hours. Week-on-week, BTC is up 11.54 percent, while month-on-month, it is still nursing a 7 percent loss.
Four-hour chart
The golden crossover/bullish crossover – 50-simple moving average cuts the 200-simple moving average from below – adds credence to the rebound from 100-day moving average (repeat of July pattern) followed by a move above the 50-day moving average.
View
The outlook for the BTC price remains constructive. A break above $4,470 (previous day's high) would open up upside towards $4,700. The 10-day moving average is sloping upwards – thus, any pullback is likely to be met with fresh bids.
As for a possible downside, only two consecutive day-end closes below the 10-day moving average would abort the bullish view on bitcoin.
Hot-air balloon image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
