BTC rebound may be temporary as key golden cross has yet to form

A golden cross between Bitcoin's 50-week and 100-week simple moving averages (SMA), an indicator that has accurately predicted major bear market bottoms in the past, has not yet occurred, CoinDesk reported. In a typical uptrend, the 50-week SMA is positioned above the 100-week SMA. During a bear market, the 50-week SMA crosses below the 100-week SMA in what is known as a death cross. According to the report, while the two moving averages have drawn close, a golden cross has not yet appeared. "The past three golden crosses all signaled the start of a major bull market," the outlet noted, adding that the absence of this signal means "the current price rebound could be temporary."