Analysis: BTC and Strategy stocks show bullish signals simultaneously

ChainCatcher news, according to CoinDesk, Bitcoin (BTC) and the world's largest publicly traded Bitcoin holder Strategy (formerly MicroStrategy) have both shown technical bullish signals on their price charts, with both daily charts displaying the 50-day moving average crossing above the 100-day moving average, forming what is known as a "golden cross."

CoinDesk's chartered market technician Omkar Godbole pointed out that this synchronous signal indicates that the short-term trend is surpassing the long-term trend, potentially signaling the beginning of a major bull market.

The bullish signals for BTC align with other technical indicators such as MACD, suggesting that the price movement has the least resistance in the upward direction. However, analysts caution investors that on-chain data shows influential market participants have adopted a cautious stance, with Bitcoin prices facing resistance in the $101,000 - $107,000 range, and may dip below $100,000 in the short term, pulling back to the $98,000 support level.