Bitcoin (@BTCUSD) has just completed a Golden Cross on the 4H timeframe, with the 4H MA50 (blue trendline) now being tested as support. If this level holds, there’s a strong chance BTC could repeat the Channel Up pattern we saw from April to May — a rally that peaked at the 2.618 Fibonacci extension.
Interestingly, the structure of that previous move is closely mirrored now: both had a Lower Highs trendline acting as resistance, followed by a breakout. Right now, Bitcoin is testing its final dotted resistance — the same place where the last breakout happened.
We’re at a similar stage as the green circle from April 21 — a brief consolidation before a sharp move higher. If history repeats, this could push BTC as high as $130,000, aligning once again with the Fib 2.618 extension.
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