According to PANews, although many expect Bitcoin to reach $140,000, recent historical patterns and market data suggest the possibility of a modest decline before further gains.
The ‘golden cross’—a technical indicator where the 50-day moving average crosses above the 200-day moving average—is generally viewed as a bullish sign. However, past trends show Bitcoin often dips about 10% shortly after this crossover before rallying to new highs.
For example, in February 2021, Bitcoin dropped 10% within a week after the golden cross, and in March 2024, it experienced an 11% decline before soaring to record levels.
This recurring pattern may represent a strategic shakeout by major investors aimed at flushing out weaker holders, setting the stage for a genuine breakout. Such moves tend to trigger buying frenzies driven by FOMO (fear of missing out), further pushing prices upward.
Recently, Bitcoin saw an 8% pullback in line with this historical behavior, followed by a rebound indicating strong buying interest near the $104,000–$105,000 range. However, upward momentum above $110,000 appears to be losing steam.
Looking forward, if Bitcoin holds support around $105,000, it could target $150,000 in keeping with the golden cross trend. On the other hand, a dip below $100,000 may prompt a minor correction down to $90,000–$95,000.
For new investors, this period might offer a good entry point given the short-term bullish outlook. Still, a cautious approach is recommended, focusing on solid blue-chip cryptocurrencies like Bitcoin, Ethereum, and Solana, alongside select promising altcoins such as Cookie, W, and IOTA.
Current holders are advised to stick to their existing plans, whether that means selling or increasing their positions.
