know they're lagging indicator yes they show the market's already been bullish but but a golden cross does indicate that we are transitioning into a more bullish period for the markets so it's a good thing it's a good thing that being said price still trading under both of those key moving averages now this particular zone here has been interesting so far we can see there has been a lot of price support right in this area here so that's been pretty good to see we have seen the price over the last couple days holding up in this area so forty five thousand dollars is proving to be a pretty important zone particularly between forty four thousand five hundred and forty five thousand dollars being a pretty important zone of support right now for bitcoin and of course as i have mentioned a few times our next key zone of sports down here at NUMBER_TOKEN NUMBER_TOKEN now just because we're getting a golden cross i just want to make this really clear just because we're getting a golden cross because this is a lagging indicator we could still see the market selling off more we could still see another NUMBER_TOKEN to the downside for example before recovery happens assuming that this area fails to hold as support as it has been over the last few days and we would still get our golden cross that would still indicate that the market is generally moving into a bullish trend now look if the price collapses and we have weeks of downtrend obviously it's going to flip back to a bearish cross again the death cross out there but nice little bit of hopium we are getting our golden cross hopefully tomorrow that'll confirm um could be two days from now but uh coming very very soon to a technical analysis chart near you there you go by the way if you want to earn some safe and simple passive income with your crypto currencies need yourself an account over on celsius you can get six point two percent on your bitcoin five point three five percent on your ethereum and eight point NUMBER_TOKEN on your dollars all you have to do is deposit your crypto sit back and start earning a passive income paid out every week into your wallet use the link down below to start your account and you can get fifty dollars in free bitcoin which is awesome so go ahead and check that out now let's get into this on chain data and for that i'm actually gonna take myself off of the screen here just to have a more clear view of what is going on first let's start off by talking about crowd sentiment so this has now fallen to historically low levels with of course the dip fear that's going on right now people are seeing the price trading under these key moving averages they've seen it that of course massive flash crash that came in a few days ago we have a lot of fear in the market right now the fearing greed index has gone back into the fear zone people are not as optimistic right now on what's going on now what's interesting what's interesting here is that severe negativity has historically led to inevitable price bounces after of course the weak cans sell off their crypto and we are right now at a historically low level of social sentiment for bitcoin everybody's just looking at all these altcoins popping off like crazy oh the old man bitcoins so boring who would want to own bitcoin price fell by NUMBER_TOKEN in one day just a few days ago this is the kind of moment where bitcoin's probably getting ready to show everybody why bitcoin is still the number one cryptocurrency and go for a bit of a run
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