TechFlow, May 15 — According to CoinDesk, Bitcoin (BTC) and Strategy (formerly MicroStrategy), the world's largest publicly traded holder of Bitcoin, have both shown a bullish technical signal on their price charts. On both daily charts, the 50-day moving average has crossed above the 100-day moving average, forming what is known as a "golden cross." Omkar Godbole, a Chartered Market Technician at CoinDesk, noted that this synchronized signal indicates the short-term trend is overtaking the long-term trend, potentially signaling the beginning of a major bull market.
The bullish signal for BTC aligns with other technical indicators such as MACD, suggesting the path of least resistance is upward. However, analysts caution investors that on-chain data shows influential market participants have turned cautious, with Bitcoin prices facing resistance in the $101,000–$107,000 range, potentially dropping below $100,000 in the near term and pulling back to the $98,000 support level.
