Technical analysis by ScottMelker about Symbol BTC: Buy recommendation (5/23/2025)

Bitcoin just completed a golden cross on the daily chart – the 50-day moving average has crossed above the 200-day moving average.This is the third golden cross we've seen since late 2023. Each time, it followed a death cross (where the 50 MA crossed below the 200 MA), which tends to occur at or near cycle bottoms – often a lagging indicator of bearish exhaustion.Looking at the chart, all three golden crosses occurred within defined accumulation ranges (highlighted by the purple boxes). In each instance, the death cross signaled the end of a local downtrend, and the golden cross confirmed the start of a new bullish trend.More importantly, every golden cross since late 2023 has led to a strong upward move – even a parabolic advance. While past performance is no guarantee of future results, the consistency of this pattern is notable.I have generally been dismissive of all crosses as lagging indicators, but this trend is clear in the chart.With Bitcoin now breaking into new all-time highs and volume increasing on the breakout, this signal adds further weight to the bullish case. It suggests the trend is not only intact, but may just be heating up.