Key points:
-
Bitcoin’s latest golden cross on the daily chart is already delivering upside since confirming in late May.
-
Historically, daily chart golden crosses preceded price gains in excess of 2,000%.
-
Consensus increasingly sees Bitcoin breaking out again after consolidating below $120,000.
Bitcoin (BTC) has the chance to reach $155,000 in the coming months as a classic bull signal returns.
As noted on X Thursday by trader Merlijn, BTC/USD has seen a new “golden cross” on the daily chart.
Bitcoin golden cross is best news for bulls
Bitcoin golden crosses, formed when the 50-day simple moving average (SMA) crosses above its 200-day equivalent, often spark huge price gains.
Their success is varied. Sometimes the 50-day SMA fails to stay above the 200-day SMA for long. Regardless of its duration, the golden cross clearly impacts BTC price action.
“Every. Single. Time. This signal shows up $BTC goes vertical,” Merlijn said alongside…
