Bitcoin Nears $53K as Golden Cross Approaches: Analysis

Bitcoin prices reached their highest levels since May 11 during Tuesday morning’s Asian trading session, nearing $53,000.

Building on recent momentum, Bitcoin prices made it to just shy of $53,000 during Asian trading today. The move has seen the asset at its highest price for 17 weeks, adding to gains made on Monday.

At the time of press, BTC trades at $52,800, according to Tradingview. More interestingly, a golden cross on the daily timeframe was imminent and likely to occur within the next day or two.

This is a longer-term bullish indicator that appears when a faster moving average crosses above a slower one (the 50-day and 200-day in this case).