According to Cointelegraph, the recent golden cross of Bitcoin on the daily chart is causing optimism among traders, as historically, it signals significant price increases. The golden cross occurs when the 50-day simple moving average (SMA) exceeds the 200-day SMA and is associated with substantial profits, sometimes exceeding 2000%. This pattern has been observed in past bull markets, particularly in 2017 and 2020, when Bitcoin experienced massive jumps. The last golden cross was confirmed at the end of May, and since then, Bitcoin has shown growth, although the profits have been relatively modest - 12% to date. Trader Merlijn highlighted this development on X, emphasizing Bitcoin's potential to reach $155,000 in the coming months.

Bitcoin's price action is currently consolidating below $120,000, but market sentiment remains positive, with expectations for further price discovery. Analysts suggest that a daily close above the resistance level of $120,000, followed by a retest, could confirm a breakout to new highs. The next target for Bitcoin is projected to be around $135,000 as the cryptocurrency continues to move #BinanceHODLerC