Golden Cross Appears in Bitcoin Chart, Pushing Price Toward $155,000

Bitcoin (BTC) is eyeing a climb toward $155,000 amid a bullish technical setup known as the “golden cross.” On Thursday, trader Merlijn highlighted the recent development on X, formerly Twitter. He noted that the 50-day simple moving average (SMA) has crossed above the 200-day SMA on the daily chart. This golden cross pattern often signals strong bullish momentum in markets. Merlijn emphasized its historical impact, saying: “Every. Single. Time. This signal shows up $BTC goes vertical.” Past instances provide compelling context. Both the 2017 and 2020 golden crosses preceded surges exceeding 2,000 percent. The last golden cross emerged in October 2024 when Bitcoin hovered around $65,000. Within three months, BTC reached near $110,000. Merlijn argues that the current setup mirrors those high‑impact events. This newer cross was confirmed on May 22. Since then, Bitcoin has gained roughly 12 percent. Based on patterns from 2016’s more short-lived golden cross, some analysts say the run could continue to $155,000. The pattern shown on a weekly chart indicates more upside ahead. Cointelegraph previously observed Bitcoin’s first-ever weekly golden cross at the start of 2024. That event marked the onset of the current bull run. However, technical signals are only part of the story. For a stronger breakout, Bitcoin needs to break above the $120,000 resistance zone. According to trader and analyst Rekt Capital, a daily close above this range high could confirm the move. He told X: “Daily Close above ~$120k Range High resistance followed by a post-breakout retest would see Bitcoin confirm a breakout to new highs.” In addition, as BTC consolidates, capital appears to be rotating into altcoins. But renewed interest in altcoins often supports the broader crypto rally. For now, the golden cross continues to draw attention. If history is any guide, the BTC price may follow its steepest inclines yet. All eyes are now on both the $120,000 breakout and how long the 50-day SMA stays above the 200-day.

Source: CryptoIntelligence