Bitcoin (BTC) can hitting $26,000 in just two months thank you to a bullish effect that previously triggered 170% toll gains.

As noted by Cointelegraph Markets analyst, Keith Wareing, on Feb. xviii, this week saw Bitcoin'south ascending 50-day moving average cross over its 200-twenty-four hour period moving average.

Bitcoin i-yr price nautical chart with 50 and 200-twenty-four hours moving average. Source: TradingView

Known every bit a "golden cross," the miracle is a rare occurrence for the cryptocurrency. Despite BTC/USD shedding well-nigh $one,000 in contempo days, Wareing is anything merely bearish on brusk-term profit potential.

"Final fourth dimension this happened #Bitcoin pumped 170% in under 60 days," he summarized on Twitter.

Wareing added that at press-time levels of around $9,800, Bitcoin had retained support in an overall bullish ascending price triangle.

That sentiment was echoed by young man Cointelegraph Markets annotator, Michaël van de Poppe.

"And so, we've bounced on the green surface area around $ix,450-ix,500. That was heavily needed," he told Twitter followers on Wed.

"We could nonetheless see a period of relative at-home movements, before nosotros're either attacking the highs at $10,400 or the lows at $9,500."

In addition, the past weekend left a significant gap between two Bitcoin futures trading sessions. Historically, Bitcoin has subsequently "filled" these gaps, the implication existence that this week could see a return to $10,500.

Fri's session closed at $10,495, while Mon's began at just nether $10,000.

1 calendar month, 3 all-time loftier forecasts

The aureate cross makes Wareing the third prominent Bitcoin effigy to forecast major brusque-term gains this calendar month alone.

As Cointelegraph reported, Fundstrat's Tom Lee believes Bitcoin could attain $27,000 by August, again thanks to price beating out resistance from its 200-twenty-four hours moving boilerplate.

Thereafter, venture capitalist Mike Novogratz said that BTC/USD might retest its best highs of $20,000 by the time of May'due south block advantage halving.

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