Titan of Crypto Cryptocurrency Analyst highlighted an indicator that paints an ultra-bullish picture for Bitcoin (BTC). Based on this, the flagship cryptocurrency could be set to reach its current level All-time High (ATH) and even surpass it.
Gold Cross Forming On Bitcoin Chart
Titan of Crypto Revealed on X (Formerly Twitter) fasting that Bitcoin Golden Cross is happening. He explained that a Golden Cross between the 100-day and 200-day moving averages is developing, noting that the cryptocurrency market has never seen this before. The crypto analyst added that if successful, this development could trigger the “most explosive running of the bulls Already.”
Based on a chart shared by a cryptocurrency analyst, a successful Golden Cross could push Bitcoin’s price to as much as $120,000. This is in line with predictions from several cryptocurrency analysts, including Mikybull Crypto, who mentioned that the “optimal targets” for Bitcoin in this bull run were between $138,000 and $150,000.
Meanwhile, Titan of Crypto is not the only analyst who has recently drawn attention to the formation of the Golden Cross on the Bitcoin chart. Cryptocurrency Analyst Crypto Jelle mentioned in Posts X that Bitcoin is making a weekly Golden Cross for the first time in its history. Like the Titan of Crypto, Crypto Jelle also explained that the 100-week moving average is above the 200-week moving average.
The cryptocurrency analyst further noted that these crossovers are considered bullish signals in conventional markets and expressed doubt whether they will also be bullish for Bitcoin. Based on the chart shared by the analyst, a successful crossover could pave the way for the flagship cryptocurrency to surge to $90,000, which would mark a modern ATH for the cryptocurrency.
These analyses undoubtedly provide some form of reassurance to the cryptocurrency community that has had to deal with Bitcoin’s Summer Price Action for some time now. The flagship cryptocurrency continues to fluctuate above and below $60,000, raising concerns that the bull run may already be over, and the cryptocurrency is unlikely to reach a modern ATH in this market cycle.
“The best is yet to come”
Crypto Mikybull provided in the last Posts X that the best is yet to come for Bitcoin, suggesting that the cryptocurrency still has enough room to grow market cycle. He noted that patience is needed, while revealing that the next impulsive move in the fourth quarter of this year will be “explosive.”
The chart he shared showed that Bitcoin will raise to $120,000 between October and January 2025. Mikybull Crypto Forecast reiterates the crypto community’s expectations for Bitcoin and the broader cryptocurrency market as we enter the fourth quarter of the year. The US Federal Reserve is expected to cut interest rates in September FOMC meetingWhich Bernstein Analysts is the key to Bitcoin rising in value again.
Featured image created with Dall.E, chart from Tradingview.com
