The Bitcoin’s latest golden cross mirrors patterns seen before major rallies in 2017 and 2020.
Traders eye $120,000 as the breakout point that could open the path toward $155,000.
The largest digital cryptocurrency, Bitcoin (BTC), has formed a golden cross again. This is a chart pattern associated with notable price movements in the past. Notably, traders now look ahead, wondering if the same signal that helped spark 2,000% rallies in earlier cycles will push BTC towards $155,000 this time.
Golden Cross Pattern Returns, Traders Look Back at 2017 and 2020
According to the current outlook, a new golden cross has appeared on Bitcoin’s daily chart. This is bringing fresh interest from traders and market watchers. The signal forms when the 50-day moving average moves above the 200-day average. Essentially, it is one of the better-known signs used to track longer-term momentum shifts.
This recent cross was confirmed on May 22. So far, Bitcoin has seen a 12% price increase since that
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