The Golden Cross of Bitcoin Has Created a 2,000% Rise for BTC.

Bitcoin has the opportunity to reach $155,000 in the coming months as classic bullish signals return. As trader Merlijn noted last Thursday, BTC/USD has witnessed a new "Golden Cross" on the daily chart. Bitcoin Golden Cross Is The Best News For Buyers The golden cross of Bitcoin, formed when the 50-day simple moving average (SMA) crosses above the 200-day equivalent, often results in significant bullish momentum. Our success is quite diverse. Sometimes the 50-day SMA does not stay above the 200-day SMA for long. Regardless of how long it lasts, the golden cross clearly affects the price volatility of BTC. "Each. Time. This signal indicates that $BTC is moving vertically," Merlijn said next to the daily chart showing historical crossovers. These bullish periods include the strong bullish surge of the market, where both 2017 and 2020 saw increases exceeding 2,000% thanks to prolonged golden cross signals. The latest golden cross occurred in October 2024, when BTC/USD was trading around 65,000 USD. In the following three months, this currency pair reached a new all-time high of nearly 110,000 USD. "Same setup. Same signal," Merlijn said about the newly confirmed cross signal on May 22. So far, the maximum increase of Bitcoin has only reached a total of 12%, a rather modest figure. Even when replicating the short-term crossover of 2016, the target compared to the confirmed crossover price is still $155,000.

Bitcoin has witnessed its first weekly golden cross event at the beginning of 2024, coinciding with the start of the bullish vertical trend of the current bull market. BTC Breaks Through Around 120,000 USD While the price of Bitcoin is stabilizing below 120,000 USD, market participants have plenty of reasons to expect the price will continue to be bullish. The target increasingly leans towards the $135,000 level as the next stop for BTC/USD as this currency pair overlooks macro concerns and continues to develop. Trader and analyst Rekt Capital shared with X followers on Friday that: "The daily closing price above ~$120,000. The next high resistance level is the retest after the breakout which will help Bitcoin confirm the breakout to a new high." Rekt Capital also notes that the consolidation is shifting capital into alternative cryptocurrencies.