Bitcoin is once again testing the "golden cross," a technical pattern that has historically signaled significant price rallies, according to market analyst Mister Crypto. The golden cross occurs when a short-term moving average, typically the 50-day, crosses above a long-term moving average like the 200-day, signaling a potential shift from bearish to bullish momentum.

In a recent update, Mister Crypto highlighted that previous golden crosses led to massive price surges, with Bitcoin seeing gains of 2,200% in 2017 and 1,190% in 2020. With Bitcoin now trading around $110,000, the analyst believes that a sustained move above this level could trigger another sharp upward trajectory for the cryptocurrency.

“The setup looks incredibly strong,” Mister Crypto said, suggesting that a confirmed breakout could lead to a substantial price explosion in the coming weeks.

However, another crypto analyst, Mac, cautioned that Bitcoin needs to hold the $110,000 mark to avoid signaling the end of the current market cycle. Mac pointed out that the 4-hour Money Flow Index (MFI) is currently deeply oversold, indicating a potential short-term bounce. Despite this, Mac does not expect an immediate massive surge, but rather a period of "upward chop" in the short term.

With Bitcoin at a crucial juncture, the next few weeks could determine whether it embarks on another parabolic rally or faces a correction.

MF Radio.