Crypto analyst Titan of Crypto has highlighted an indicator that paints an ultra-bullish picture for Bitcoin (BTC). Based on this, the flagship crypto could be set to reach its current all-time high (ATH) and even surpass it.
Golden Cross Forming On The Bitcoin Chart
Titan of Crypto revealed in an X (formerly Twitter) post that a Bitcoin Golden Cross is happening. He elaborated that the Golden Cross between the 100-day and 200-day moving averages is unfolding, noting that the crypto market has never witnessed this before. The crypto analyst added that if it is successful, this development could trigger the “most explosive bull run yet.”
Based on the chart the crypto analyst shared, a successful Golden Cross could send Bitcoin’s price as high as $120,000. This aligns with predictions made by several crypto analysts, including Mikybull Crypto, who mentioned that between $138,000 and $150,000 were “optimal targets” for Bitcoin in this bull run.
Meanwhile, Titan of Crypto isn’t the only analyst who recently highlighted the Golden Cross forming on Bitcoin’s chart. Crypto analyst Crypto Jelle mentioned in an X post that Bitcoin is forming a weekly Golden Cross for the first time in its history. Like Titan of Crypto, Crypto Jelle also explained that the 100-week moving average is crossing above the 200-week moving average.
The crypto analyst further noted that these crossovers are considered bullish signs in traditional markets and questioned whether they would also be bullish for Bitcoin. Based on the chart the analyst shared, a successful crossover could pave the way for the flagship crypto to rise to $90,000, which will mark a new ATH for the cryptocurrency.
These analyses undoubtedly provide some form of reassurance for the crypto community, which has had to deal with Bitcoin’s tepid price action for a while now. The flagship crypto has continued to swing above and below $60,000, raising concerns that the bull run might well be done, and it is unlikely that the crypto will reach a new ATH in this market cycle.
“The Best Is Yet To Come”
Mikybull Crypto assured in a recent X post that the best is yet to come for Bitcoin, suggesting that the crypto still has enough room to run in this market cycle. He remarked that patience is needed while also revealing that the next impulse move in the fourth quarter of this year will be “explosive.”
The chart he shared showed that Bitcoin will rise to $120,000 between October and January 2025. Mikybull Crypto’s prediction again highlights the expectations that the crypto community has for Bitcoin and the broader crypto market heading into the fourth quarter of the year. The US Federal Reserve is expected to cut interest rates at its September FOMC meeting, which Bernstein analysts say is the key for Bitcoin to turn bullish again.
Featured image created with Dall.E, chart from Tradingview.com
Source: https://bitcoinist.com/bitcoin-golden-cross-history/