Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

Bitcoin Price Action is Now Neutral, Could Be Approaching Golden Cross

What a year 2023 has been so far for cryptocurrencies in general. After a horrible 2022, as far as price performance was concerned, the first month and change has been good for the prices of digital tokens. Bitcoin has been no exception. After a sharp rally in January, the price has been cooling recently but still is in a bullish uptrend for the year. The relative strength index (RSI) of Bitcoin has hit a neutral level, at 53. This matches up with the recent "flat" price action, indicating equally bullish and bearish positions.


Looking at the chart, I see that the 50-day moving average (orange line) is approaching the 200-day moving average (blue line). If the 50-day crosses the 200-day, this is known as a golden cross. This is generally seen as an indicator that a major rally could start soon. The current price remaining above the 200-day moving average is also very bullish. Many are pointing to these technical indicators as the beginning of a new bull run. It will be important to continue to watch these indicators for confirmation.

I must admit that the end of the crypto winter appears to be coming much sooner than I initially thought. Admittedly, I thought that it would take until at least the second half of 2023, but it appears that a new bull market does appear to have already started. It is impossible to predict where the price of anything is going, but technical indicators can give hints. I will continue to "read the tea leaves" and study the chart.


The original Bitcoin faucet is long gone, but there are still ways to collect some free crypto:
  • Sign up here on Publish0x, if you haven't already, to earn free crypto for reading & writing content.
  • Join Cointiply and roll the faucet every hour, view PTC ads, take surveys to earn free Bitcoin, Litecoin, Dogecoin, or Dash.
  • Downoad the Bitcoin Cash Giveaway to collect some free BCH sats, paid out weekly.
  • Check out Yescoiner to easily collect some satoshis; no nonsense -- just solve a captcha. Low payout, slow drip here.
  • Final AutoClaim is another facuet-style site that offers payouts in 74 different coins
  • For an entertaining, off-the-wall faucet, check out Crypto Junkie. Great for accumulating SPACE and SHIB.

How do you rate this article?



dot com boomer - writing mostly on crypto, stocks, entertainment, etc.

Esoteric Selections
Esoteric Selections

From the deep reaches of the inner mind, to the lighthearted musings of a friendly conversation, to investing and crypto ramblings, to reflections on pop culture phenomenona: assorted subjects and scattered connections.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.