This weird Bitcoin pattern suggests Wednesday's 10% dump may precede a massive surge

Over the past few days, all anyone could talk about on Crypto Twitter was the golden cross that had formed on Bitcoin's one-day chart.

"As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes. [] It is interpreted by analysts and traders as signaling a definitive upward turn in a market."

Bitcoin could be on verge of strong bull run, despite 10% crash.

As aforementioned, Bitcoin, from its peak on Feb. 19, dropped just around 10 percent.

In the two months after the golden cross and the subsequent plunge formed, BTC surged 180 percent to a level just short of $14,000.

Fun fact: Bitcoin dumped 11% in the two days after the last golden cross in April 2019, then proceeded to rally ~170% to $14,000.

This writer wasn't the only one who noticed this peculiar trend of Bitcoin temporarily moving against its crosses prior to moving in the trajectory the cross suggests.

Alex Krüger, a macroeconomist and cryptocurrency market commentator, noted in his own tweet that Bitcoin's printing of a death cross preceded the 42 percent "China pump" that took BTC across $10,000 for the first time after weeks of a bear trend.

More specifically, data this writer compiled shows that the golden cross in 2012 led to a 20,578 percent surge in the price of Bitcoin and that a golden cross in 2015 led to the 6,739 percent rally that took BTC to just shy of $20,000.

Yes, there were two cases where the golden cross actually preceded macro declines of 65 percent and -32 percent, though that was when the 200-day moving average was rolling over, not starting to trend higher as it has over the past few weeks.