Bitcoin Price Prediction: Trader Says $229K Is Next – Here’s the “Golden Cross” Indicator to Watch

Bitcoin is once again at the center of bold predictions as technical indicators flash signs of a potential breakout. Trader Tardigrade, a widely followed analyst on X, has identified a classic “golden cross” formation on the BTC daily chart, a bullish crossover where the 50-day simple moving average (SMA) rises above the 200-day SMA. Historically, this pattern signals the beginning of major uptrends.

This is the fourth golden cross Bitcoin has posted since 2023. The previous three saw price gains of 49%, 125%, and 68%. Applying these historical averages, Tardigrade projects a conservative upside target of $152,000, about 44% higher than today’s price of $106,802.

#Bitcoin 50 SMA and 200 SMA formed a Golden Cross
This signal has boosted $BTC by 49%, 125%, and 68% since 2023 whenever it has occurred.
If $BTC experiences its worst and best gains from this point, it could reach $152k and $229k.
These targets are reasonable given the recent… pic.twitter.com/PGEinfxpHE

Under stronger market conditions, however, the analyst sees Bitcoin potentially soaring to $229,000, a move that would represent a 118% rally.

These predictions are rooted in more than just chart patterns. Bitcoin is already up roughly 47% from its April lows and has rallied 656% since the current market cycle began in late 2022. For traders watching closely, the golden cross is not just a pattern; it’s a potential roadmap.

As of now, Bitcoin price prediction remains neutral as BTC is trading near a critical resistance zone at $107,270. This level has acted as a ceiling multiple times over the past two weeks, and a breakout of this level can turn the price forecast bullish.

The current 1-hour chart shows a symmetrical triangle formation, with price compressing between rising support and declining resistance lines.

The 50-period EMA at $105,853 has turned upward, confirming short-term bullish momentum. MACD readings support this thesis as the indicator line crosses above the signal, though there’s no aggressive divergence. A recent green candle with a long upper wick suggests sellers are active just above current levels, meaning a breakout will require volume and conviction.

The candlestick structure shows higher lows forming, but without follow-through confirmation, it’s still a coin toss between a breakout and a reversal. A close above $107,270 would put bulls in the driver’s seat. Failure could send BTC back toward support at $105,437 or even $104,532.

Whether you’re a novice or seasoned trader, this setup presents an actionable opportunity:

• Bullish Entry: Above $107,270 close with volume
  • Targets: $108,349 and $109,254
  • Stop-Loss: Below $105,400
• Bearish Setup: Close below $105,437
  • Target: $104,532
  • Stop: Above $106,200

With momentum aligning behind the golden cross and Bitcoin nearing an inflection point, this is a critical juncture for bulls and bears alike. A confirmed breakout could validate Tardigrade’s $229K thesis, while a rejection may delay upside for weeks.

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