Bitcoin Golden Cross Pattern Appears and Bitcoin Aims for $88,000 As Next Recovery Target

robot
Abstract generation in progress

Bitcoin golden cross pattern appears on the BTC price chart

Analyst believes BTC is working to hit the $88,0000 target as its next recovery target.

Could BTC price hit another new ATH this bull cycle?

The price of Bitcoin (BTC) seems to be working towards a rally. Standing at $84,000 BTC is showing signs of possibly heading into a recovery. According to reputed analysts, a Bitcoin golden cross pattern has appeared and Bitcoin seems to be aiming to hit $88,000 as the next recovery target.

Bitcoin Golden Cross Pattern Appears

As we can see from the post above, one crypto and Bitcoin enthusiast has marked a Bitcoin golden cross pattern appearing on the BTC price chart. This Bitcoin golden cross formation is highlighted on the price chart shared in the post above. Here, the analysts draw light to the past few instances where Bitcoin golden cross patterns affected the crypto market

To elaborate, in 2016 the pattern led to a pump of over 139%, a pump over 2,200% in 2017, and a pump of over 1,190% in 2020. The analyst marks that every time this pattern appears, the market responds in a bullish manner and hopes to see a similar bullish reaction this time, one that will send BTC price back to the new ATH range

$88,000 Next BTC Recovery Target?

Following the Bitcoin golden cross pattern observation, one analyst predicts that the price of Bitcoin (BTC) is preparing to his the $88,000 price target next. As we can see from the post above, BTC is not only breaking above Tenkan, but a bullish divergence is also forming on the MACD. If confirmed, Kijun is the next stop, bringing BTC price ot $88,000

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)