Street Calls of the Week
U.Today - Bitcoin (BTC) just hit a combination of signals that traders usually keep an eye on during major uptrends. The major cryptocurrency had a rare "bull run combo" on the chart this week — a golden cross on the daily time frame, paired with a strong bounce off a support level around $95,488.
The golden cross happened when the 23-day moving average moved above the 200-day moving average. It’s a classic technical pattern that marks a shift in longer-term momentum to the upside. This crossover can’t promise wins, but it often gets the attention of traders who are focused on momentum and looking at the big picture.
At the same time, BTC’s price tested the $95,488 zone again — a level that has now shown to be solid support. The price dipped into that area after last week’s rally but held steady, which suggests that buyers are stepping in to defend that range.
As of May 4, Bitcoin is trading just below $95,500. From a price perspective, there has been some hesitation around the $96,000 mark in recent sessions, but the overall trend is still bullish as BTC is trading well above the breakout zone around $94,200.
Support levels are still there too, at $91,000, $90,288 and $89,738. If the price drops more, these could be good spots to watch. These zones could give us some breathing room during consolidation without messing up the big picture.
When you put it all together, this mix of long-term and short-term strength gives Bitcoin a solid technical base. The current setup is more bullish than not, and while it might lead to a fresh breakout or more sideways movement in the short term, it is definitely not worth ignoring.