NaijNaira
Bitcoin has formed a weekly Golden Cross once again, sending traders and analysts into speculation about whether a major rally is on the horizon — www.naijnaira.com reports.
The technical signal appeared when the 50-week moving average crossed above the 200-week average, a move last seen in 2015, 2016, and 2019.
During those previous cycles, Bitcoin surged by 264%, 2,200%, and 1,190% after the crossover, according to data from Cointelegraph.
At the moment, BTC trades around $109,500, just under the critical resistance at $110,100, with short-term targets set as high as $112,500 if the breakout sustains.
Crypto analyst Gordon remarked, “Bitcoin is at a golden cross,” adding that altcoins are “the most oversold they have EVER been” before predicting, “The bounce will be glorious… and it will be SOON.”
Another analyst, Lennaert Snyder, noted that Bitcoin “grabbed liquidity and is pushing,” while stressing that $110,100 remains a deciding level for either rejection or continuation higher.
Market watchers also pointed to $108,300 as a potential higher low that could preserve a short-term bullish setup.
Daan Crypto Trades observed that volatility has stayed muted since July, saying it has been a long time since Bitcoin looked “overheated.”
Meanwhile, Tom Tucker reminded traders that August followed its usual downtrend, dropping 6.5%, while September could set the tone for a strong Q4 recovery if BTC holds $100K support.
For now, Bitcoin remains range-bound, with traders waiting for confirmation above $110,100 to determine whether momentum can carry the price toward higher resistance zones.
