Bitcoin’s Golden Cross: Bullish Signals Amidst Cautious Whale Sentiment

On May 15th, COINOTAG reported insights from analyst Omkar Godbole, who highlighted a significant bullish signal for Bitcoin. According to a CoinDesk analysis, the daily trading chart indicates a potential *bull market* formation, marked by the *50-day moving average* crossing above the *100-day moving average*, a pattern known as the “Golden Cross.” This technical formation underscores a shift where short-term momentum is gaining strength against long-term trends.

However, caution prevails among market participants, especially the notable *whales*, as on-chain data reveals a hesitance despite the optimistic outlook. Current price action faces notable resistance within the $101,000 to $107,000 range, while key support is established at $98,000. Observing these pivotal levels will be crucial for analysts and investors alike as they navigate the complexities of the cryptocurrency market.