Bitcoin 'golden cross' that sparked 2000% BTC gains is already here

Key Points

1. A 'golden cross' occurs when Bitcoin's 50-day simple moving average (SMA) crosses above its 200-day SMA, often leading to substantial price surges.

2. Past golden crosses in 2017 and 2020 resulted in Bitcoin price increases exceeding 2,000%.

3. The current golden cross has so far yielded a modest 12% gain, but traders anticipate further upside, with targets around $135,000.

4. Bitcoin's breakout potential hinges on surpassing the $120,000 resistance level, with analysts suggesting a close above this range could confirm new highs.

5. The market consensus is increasingly optimistic about Bitcoin's price discovery phase, with expectations of continued upward momentum.