Bitcoin golden cross retest signals rally potential

     

Bitcoin golden cross retest could spark strong rally

Bitcoin is retesting the golden cross, a bullish pattern that often appears before large rallies. Analysts say that a move above $110,000 could trigger another major surge.

Crypto analyst Mister Crypto noted that Bitcoin’s previous golden crosses led to huge gains – about 2,200% in 2017 and 1,190% in 2020. With BTC trading near $110,000, he said holding this level could ignite another parabolic run.

“The setup looks incredibly strong,” the analyst wrote on X, adding that a confirmed breakout could “absolutely explode” Bitcoin’s price soon.

A golden cross forms when the 50-day moving average rises above the 200-day average. It often signals a shift from bearish to bullish momentum, meaning prices could start climbing again.

Bitcoin must hold $110K to sustain current cycle

Crypto analyst Mac warned that Bitcoin must stay above the $110,000 level to keep the current bullish cycle intact. He pointed out that the 4-hour Money Flow Index (MFI) is “deeply oversold,” hinting at a possible short-term bounce.

Mac said the risk-to-reward setup looks favorable but doesn’t expect a huge rally right away. He predicted “a little more upward chop next week” before a clearer trend appears.

Meanwhile, Fundstrat co-founder Tom Lee commented that the recent stock market pullback “may be overdue.” He noted that markets have climbed 36% since April and that Friday’s drop was the largest in six months.

Lee highlighted that the VIX index, which tracks market volatility, jumped by 1.29%, marking the 51st-largest spike ever. He said such volatility spikes often signal short-term market bottoms as traders hedge positions instead of selling.

Trump’s 100% tariffs add pressure to global markets

The latest sell-off followed US President Donald Trump’s announcement of new 100% tariffs on all Chinese imports starting Nov. 1. The move responds to Beijing’s new export restrictions on rare earth minerals.

China, which supplies about 70% of the world’s rare earth elements, introduced rules requiring an export license for any product with over 0.1% Chinese-sourced rare earths. The new policy is set to start on Dec. 1.

These trade tensions added pressure to both stock and crypto markets, as investors turned cautious amid rising geopolitical risks.