Bitcoin is close to the same as ATH’s Golden Cross – How much higher can BTC?
Bitcoin (BTC) is approaching a bullish gold cross on the weekly chart, as the largest cryptocurrency traded by market cap is well below its all-time high (ATH) of $108,786. With a new ATH that seems to be touched, several crypto analysts are weighing the ongoing rally that can drive BTC’s heights.
Golden Cross connects to Bitcoin when it flirts with Ath
In the latest post on X, cryptocurrency analyst Titan shares the following weekly chart highlighting the imminent formation of another golden cross by BTC. The last time BTC experienced this technology model was in October 2024, ahead of historic rally, the asset raided multiple new ATHS in the following months.
For beginners, a golden cross occurs when Bitcoin’s short-term moving average (MA) (usually 50 days) exceeds its long-term MA (usually 200 days). Traders see this model widely as a powerful indicator of upward momentum.
Bitcoin’s current bullish trajectory has attracted the attention of several analysts, many of whom are now predicting more upside space. For example, crypto master predict As BTC exploded from the bullish pennant formation, the rally reached $116,000.
Similarly, crypto analyst Cryptogoos shares the next weekly Bitcoin chart showing the breaking range of BTC while the moving average convergence difference (MACD) makes a bullish crossover.
As shown in previous cycles, similar MACD crossovers rose sharply afterwards. If the pattern holds true, BTC may be on the path of a new ATH.
To explain, when the MACD line (blue line) crosses above the signal line (orange line), a bullish crossover of MACD occurs. Traders often see it as a sign of possible price movements.
A brief squeeze inlet?
In another article, well-known analyst TED Pillows noted that BTC’s length/short ratio is currently based on shorts data From the main encrypted communication. Ted suggests that such a setting could trigger a brief squeeze and potentially accelerate BTC’s climb to new highs.
Meanwhile, crypto analyst Jelle pointed out that BTC faces “the final obstacle” before heading towards $140,000. Their prospects are with another forecast Forecast for near-term $120,000.
Added bullish sentiment, BTC continue Flow out of the AC at a significant speed. More than 100,000 BTC has been withdrawn in the past three weeks, suggesting investors may be positioning further gains. At press time, BTC traded at $107,031, up 2.5% over the past 24 hours.
Featured images from Unsplash.com, charts from X and TradingView.com
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
