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Bitcoin Tests Support With 110K As Tipping Point

10h05 ▪ 4 min read ▪ by Luc Jose A.
Bitcoin (BTC)
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Bitcoin is testing a major technical pattern that, in the past, has often marked the beginning of historic rallies. As the crypto attempts another golden cross, the crossover of the 50- and 200-day moving averages, eyes turn to the 110,000 dollar level. This key level could revive the market’s bullish momentum if it holds. If it breaks, some analysts fear a sharp cycle reversal.

A giant Bitcoin is about to take off like a rocket.

In Brief

  • Bitcoin is currently retesting a golden cross, a bullish technical pattern observed during previous bull runs.
  • Analyst Mister Crypto recalls that this signal preceded rises of +2,200 % in 2017 and +1,190 % in 2020.
  • The 110,000 dollar level is identified as critical: breaking and maintaining above it could trigger a new rally.
  • Analyst Mac tempers expectations and warns that a break of this level could mark the end of the current cycle.

The Golden Cross : Toward an Explosive Recovery ?

In a message published Sunday on X, analyst Mister Crypto pointed out that Bitcoin is currently retesting a “golden cross”, a bullish technical figure already detected in July.

This crossover occurs when the 50-day moving average passes above the 200-day moving average, often signaling a trend reversal in favor of buyers. “The configuration looks extremely solid,” wrote Mister Crypto, adding that a confirmed breakout could “literally explode” the Bitcoin price in the weeks to come.

He also recalls that previous golden crosses preceded massive rises : +2,200% in 2017 and +1,190% in 2020.

According to the analyst, the validity of this configuration now depends on BTC maintaining above 110,000 dollars. This threshold represents a crucial pivot point for activating a potential bullish movement. The technical data cited refer to clear precedents :

  • In 2017, a golden cross preceded a 2,200% rally ;
  • In 2020, the same technical pattern preceded a 1,190% surge ;
  • The current signal is considered “incredibly strong”, according to Mister Crypto ;
  • Maintaining above 110,000 $ could trigger a new phase of growth, potentially parabolic.

The golden cross thus acts as a powerful psychological catalyst on the market, fueling expectations of a new high-potential bullish cycle for Bitcoin. However, this signal is conditioned by holding key levels, in a demanding technical context.

Technical Threats and Macroeconomic Pressures

Contrary to this decidedly optimistic interpretation, other analysts adopt a more measured stance. This is the case of Mac, also active on X, who points out that Bitcoin must imperatively keep above the 110,000 dollar threshold to avoid a bearish reversal of the current cycle.

“If BTC falls below, that could mark the end of the current cycle,” he warns. He notably relies on the MFI (Money Flow Index) in 4-hour units, which he describes as “deeply oversold,” suggesting a potential short-term rebound, but not necessarily triggering an immediate surge.

At the same time, the macroeconomic environment reinforces the prevailing uncertainty. Tom Lee, co-founder of Fundstrat, notes that the recent correction in equity markets could be a simple adjustment after a 36 % rise since April.

He highlights the VIX peak, a volatility indicator, which rose 1.29 % last Friday, the 51st largest historical increase. “If someone asks me: will we be higher in a week? I would say the chances are really good,” he notes.

Meanwhile, Donald Trump’s announcements regarding the imposition of 100% tariffs on Chinese imports starting November 1st are fueling a risk-averse climate. China, it should be recalled, controls about 70% of the global supply of rare earth elements, strategic components for the tech industry.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.