The holy grail of bullish sentiment in Technical Analysis has just occurred for Bitcoin - Golden Cross

What is Golden cross?

A Golden Cross is usually seen by chartists as a lag indicator of potentially large gains in an asset. When the 50-DMA (short-term bullish indicator) moves above the 200-DMA (long-term bullish indicator), an asset class tends to deliver large outperformance over the medium term.

https://imgur.com/a/5eTtiWE

^{Bitcoin’s Golden cross. SS from Trading View}

How well has it predicted bull runs in Bitcoin (and crypto markets)?

In the previous two instances when Bitcoin formed a ‘Golden Cross’ on the daily charts, the cryptocurrency’s value increased by five times and three times, respectively. And out of 6, 4 golden crosses have led to massive increases in prices

Other supporting bullish info

• BTC balances on exchanges are still low and there is a supply crunch

• mining hash rate is improving after China ban and is now more decentralised (Thanks China ig?)

• Many countries mulling adoption like El Salvador

• we are having good recovery after the flash crash

What to do now?

As with all TA this is just an “Indicator” which says price will probably move up. Fundamentals are looking strong before and after golden cross and if anything it is time to buy or hodl with TA validation

TLDR: HODL or Buy