Bitcoin, XRP, & Ethereum: Three Top Coins On Brink Of Golden Cross – NewsBTC


Bitcoin, XRP, and Ethereum — three of the cryptocurrency market’s most dominant coins — are about to simultaneously form a 3-day golden cross.
This signal is rare, happening only a handful of times in the past in each individual asset. However, never have all three of these major cryptocurrencies triggered this signal all at the same time. What exactly does this mean, and what are the results of the 3-day golden cross?
The crypto market outlook is a lot less bleak than it was just weeks ago, between BlackRock and other institutions seeking to launch Bitcoin ETFs and the massive win for XRP and Ripple against the US Securities and Exchange Commission (SEC).
Even the technical environment is starting to show signs of a possible uptrend brewing. Notably, several top cryptocurrencies are inching closer to a golden cross on the 3-day timeframe, which has only occurred a handful of times in the past.
This is about to happen in Bitcoin, Ethereum, and XRP, simultaneously, for the first time in their history. Previously, these signals arrived at different phases of previous bull markets. It wasn’t until all three coins golden crossed that a stronger rally began.
Three top crypto assets — #Bitcoin, Ethereum, and #XRP — are on the brink of a golden cross on the 3-day timeframe
All three firing at the same time has never happened before
It will also be the third in history for BTC and XRP, second ever for Ether
— Tony “The Bull” (@tonythebullBTC) July 19, 2023
A golden cross occurs when a higher timeframe moving average, typically a 200-period MA, crosses above a lower timeframe moving average, usually a 50-period MA, from below. In contrast, a death cross happens when the two cross down from from above.
These crossovers generate a buy or sell signal in a moving average-based trading system. Such systems are designed to capture the majority of a trend, but tend to miss much of the early part of a rally as it awaits confirmation.
bitcoin xrp ethereum golden cross
The only time the signal suffered a drawdown was in Bitcoin in 2019. In all other instances, the buy signal using nothing more than a simple moving average crossover, was wildly profitable with limited downside. In 2015, the BTCUSD 3-day golden cross yielded over 2,000% ROI before crossing back down and giving the corresponding sell signal. XRP’s golden cross to death cross kept more than 9,000% of the uptrend’s gains. Ethereum never fired a signal back then, however, due to insufficient price history.
Come 2019, Bitcoin had its misfire where the buy signal then sat through a long drawdown. Neither XRP nor Ethereum triggered a signal until 2020, when the entire crypto market began to rally together. The 2020 ETHUSD golden cross held onto over 1100% ROI before the death cross closed out the position. XRP failed to set a new all-time high, but the golden cross still clocked in 200% ROI.
Even though Bitcoin fired early in 2019 and sat through a drawdown, the buy signal was still ultimately effective and retained 550% ROI by the time a death cross caused the position to close. Across the five historic buy signals, there was an average of 2,570% ROI when a golden cross occurred. While such returns aren’t likely in the future, this does suggest the signal is effective.
Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony “The Bull” is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.
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