Bitcoin (BTC) Golden Cross Confirmed by Top Analyst, Eyeing $113,000

Bitcoin Surges Past $110,000 as Golden Cross Formation Emerges

The cryptocurrency market is buzzing as Bitcoin (BTC) breaks through the $110,000 barrier, nearing a key resistance level at $113,000. This upward movement coincides with the appearance of a golden cross—a historically bullish technical signal where the 50-day moving average crosses above the 200-day moving average.

What's Driving the Rally?

Two major factors are fueling Bitcoin's recent breakout:

• Technical momentum: The golden cross formation has historically preceded extended bullish runs.
• Short liquidations: A sharp short squeeze wiped out over $239 million in bearish positions in just 24 hours, accelerating Bitcoin's upward trajectory.

Key Levels to Watch

While the current trend appears strong, traders should monitor these critical price zones:

• Resistance: $111,000–$113,000 range where sell pressure may intensify
• Support: $101,000, the level of the previous breakout

The market shows signs of short-term overextension, which could lead to profit-taking or a temporary cool-down. However, the breakout's validity is supported by strong trading volume and clear upward momentum on daily charts.

What Comes Next?

A decisive close above $113,000 with sustained volume could trigger the next leg of the rally. While the golden cross and technical indicators suggest continued strength, excessive bullish sentiment often precedes volatility. The market's reaction at the $113,000 level will likely determine Bitcoin's near-term direction—either confirming the uptrend or signaling a pullback before further gains.