Bitcoin in Wyckoff Phase E: Bullish Golden Cross and Short-Term Price Target of $125K
The post Bitcoin in Wyckoff Phase E: Bullish Golden Cross and Short-Term Price Target of $125K appeared on BitcoinEthereumNews.com.
Bitcoin enters a pivotal Phase E of the Wyckoff Accumulation model, eyeing pivotal price levels following a significant ‘golden cross’ event. Bitcoin enters Wyckoff Phase E with a ‘golden cross,’ setting sights on $125K short-term. Analyst eyes $260K by August–September, citing shrinking withdrawal activity as a key driver. Bitcoin [BTC] officially entered Phase E of the Wyckoff Accumulation model—typically marked by a breakout and strong upward continuation. One key technical confirmation was witnessed on the 24th of May, when the 50-day Moving Average (MA) crossed over the 200-day MA, forming the favorite ‘golden cross’ on the daily chart. The chart pattern is traditionally considered a bullish long-term signal, indicating a shift in sentiment. Naturally, many traders have now set their sights on the $125K mark—the first major resistance within this markup phase. Source: X The real question remains—what happens beyond that? U.S. Senate crypto bills could initiate the next market phase From a highly regarded market analyst’s tweet, the next cycle for Bitcoin could either be a distribution phase or a re-accumulation phase. The likeliest, in his view, is re-accumulation, particularly with the U.S. Senate set to vote on key crypto legislation soon. Regulatory events inject volatility but could bolster institutional confidence, especially if legal clarity emerges around digital asset classifications. Addresses withdrawing Bitcoin are declining On-chain metrics add fuel to the current rally. The declining number of Exchange Withdrawing Transactions—a key indicator tracking how often BTC is moved to private wallets—suggests selling pressure may be dwindling. This decrease in selling pressure may act as a stealthy bullish driver, reducing overhead resistance and powering price momentum. This pattern aligns with the analyst’s projection of a distribution move near $260K by August or September, assuming market supply remains constrained. Source: CryptoQuant Policies and price action to watch With Bitcoin firmly in…
Filed under: News - @ May 25, 2025 9:20 pm