The post Bitcoin’s golden cross confirmed; Here’s the next record high target appeared on BitcoinEthereumNews.com.

Bitcoin’s (BTC) recent momentum could lead to gains of over 50%, following the confirmation of a bullish golden cross technical formation. According to an analysis by TradingShot, the golden cross emerged as Bitcoin formed the fourth bullish leg within a long-term “channel up” pattern that began after the November 2022 bottom. In a May 28 post on X, the analyst pointed out that this channel has reliably guided Bitcoin’s price through multiple consolidation phases, often around the 0.5 Fibonacci retracement level, before each breakout. Bitcoin price analysis chart. Source: TradingView A golden cross typically occurs when the 50-day moving average (MA) crosses above the 200-day (MA). At the same time, Bitcoin’s weekly MACD has printed a bullish cross, further supporting the upward trend. Bitcoin’s next record high price target  Historically, these indicators have preceded significant rallies, and the current market structure shows strong similarities. Bitcoin remains within its upward channel and appears to have room to move higher. Based on Fibonacci extension levels and the prevailing bullish pattern, TradingShot projects Bitcoin could climb to as high as $165,000, a potential 51% increase from its current price near $109,000. Bitcoin seven-day price chart. Source: Finbold Meanwhile, in response to the golden cross, analysis from SmartReversal has outlined several key short-term price levels to monitor. In a separate May 28 X post, the analyst noted that this development is especially notable, as similar signals haven’t yet appeared in major stock indices. Bitcoin price analysis chart. Source: SmartReversals The upper Bollinger Band (BB), which previously widened during periods of consolidation, has started to flatten and curve downward. This marks a shift from earlier behavior and could point to waning momentum.  At the same time, the Relative Strength Index (RSI) has dropped to 65.79 after peaking near 84, even as prices continued to rise.…

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Filed under: News - @ May 28, 2025 10:22 am