"Bitcoin's Golden Cross Signals Bullish Rally Amid $104K Pullback"

Bitcoin’s price retreated to $104,000 in June after nearing an all-time high of $111,000, sparking renewed analysis of technical patterns and market sentiment. Crypto analyst Doctor Profit, known for his accurate price predictions, highlighted key signals suggesting the cryptocurrency’s bull run remains intact despite short-term volatility.

The Bitcoin price chart formed a rare “Golden Cross” on the weekly timeframe, a technical indicator historically linked to sustained rallies. This pattern, where the 50-day moving average crosses above the 200-day moving average, has preceded multi-month upward trends in prior cycles. Doctor Profit emphasized its “historic accuracy,” noting it signals a long-term bullish trajectory. While recent price dips have drawn bearish speculation, the analyst dismissed these as cyclical corrections, attributing them to profit-taking by short-term holders rather than a broader trend reversal.

A bearish divergence on the weekly chart—typically a warning sign—was downplayed by Doctor Profit, who pointed to a similar false signal at $80,000. He attributed the recent divergence to external factors, including U.S. President Donald Trump’s tariff announcement, which caused temporary uncertainty but did not disrupt the underlying bullish momentum. The analyst stressed that such divergences often lag behind market movements, offering little actionable insight.

Technical indicators continue to support a bullish outlook. The Bitcoin price remains above all major moving averages, including the 20-day, 50-day, and 200-day lines. A “Cup and Handle” pattern on the daily chart suggests a potential breakout zone between $113,000 and $115,000. Additionally, the MACD line crossed above its signal line on the weekly chart, signaling strengthening upward momentum. These patterns align with Bitcoin’s upward trajectory since its recent low of $74,000, which Doctor Profit described as a “solid bottom” with higher lows and higher highs.

Institutional sentiment also appears stable. BlackRock, one of the largest asset managers, reported low outflows despite heightened macroeconomic uncertainty, reinforcing confidence in Bitcoin’s appeal as a store of value. Doctor Profit framed the recent price pullback as “standard cycle behavior,” emphasizing that long-term holders remain undeterred. He reiterated that the Golden Cross and other technical signals point to a sustained rally, urging investors to avoid overreacting to short-term fluctuations.

While bears have seized on minor corrections to question Bitcoin’s trajectory, the analyst argued that such movements are typical in prolonged bull markets. The focus, he noted, should remain on the broader trends and historical patterns. With momentum indicators bullish and key support levels holding, the stage appears set for Bitcoin to reclaim and surpass its all-time high, barring unforeseen macroeconomic shocks. Doctor Profit’s analysis underscores a market environment where technical signals and institutional resilience are outweighing near-term volatility.

As June progresses, the Bitcoin price’s technical landscape and analyst sentiment suggest the rally is far from exhausted. While short-term dips may persist, the structural indicators point to a continuation of the upward cycle, driven by both technical formations and institutional confidence.