Crypto analyst Titan of Crypto has highlighted an indicator that paints an ultra-bullish picture for Bitcoin (BTC). Based on this, the flagship crypto might be set to achieve 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 going on. 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 whether 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 on this bull run.
Meanwhile, Titan of Crypto isn’t the one 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 primary 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 or not they would even be bullish for Bitcoin. Based on the chart the analyst shared, a successful crossover could pave the best way for the flagship crypto to rise to $90,000, which can mark a recent ATH for the cryptocurrency.
These analyses undoubtedly provide some type of reassurance for the crypto community, which has needed to cope with Bitcoin’s tepid price motion for some time 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’s unlikely that the crypto will reach a recent ATH on this market cycle.
“The Best Is Yet To Come”
Mikybull Crypto assured in a recent X post that the perfect is yet to come back for Bitcoin, suggesting that the crypto still has enough room to run on this market cycle. He remarked that patience is required while also revealing that the subsequent impulse move within the fourth quarter of this 12 months will likely 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 12 months. The US Federal Reserve is anticipated to chop rates of interest at its September FOMC meeting, which Bernstein analysts say is the important thing for Bitcoin to show bullish again.
Featured image created with Dall.E, chart from Tradingview.com