- Bitcoin breaks $110K fueled by a golden cross and wedge breakout, signaling strong momentum toward the $115K resistance zone.
- Sustained institutional buying and technical confirmation push Bitcoin from $67K to $110K, with bullish momentum showing no signs of slowing.
- A golden cross and wedge breakout validate Bitcoin’s long-term uptrend, with dynamic support and volume backing further price expansion.
Analyst Benjamin Cowen stated in his X post that Bitcoin is still on its extraordinary bull run following the golden cross event. The cryptocurrency price climbed from $67,000 in November 2024 to above $110,000 in May 2025. This price action shows that there is momentum with institutional inflows carried strong, paired with strong technical backing. At around $110,994, a move to $113,362 in the short term is probable. Accordingly, traders now look toward the next resistance of around $115,000 as buying pressure remains constant.
Source: Benjamin Cowen
Golden Cross Signals Strength in Bitcoin’s Uptrend
Benjamin Cowen highlighted Bitcoin’s golden cross, a bullish formation where the 50-day moving average crosses above the 200-day average, giving support to the long-term bullish structure of this cryptocurrency. Also, the pink moving average still has an upward slope, despite the sharp pullback in February. During the correction, Bitcoin had retraced down to $85,000, being the deepest retracement since the breakout. The price bounced strongly in March, going above $90,000 and recovering its momentum through April.
Additionally, volume patterns confirm institutional interest, particularly during key breakouts above psychological levels. December’s consolidation between $100,000 and $108,000 helped create a launchpad for Bitcoin’s April surge. May saw the strongest breakout as Bitcoin breached $110,000, with the current target set at $113,362. Significantly, the white ascending trendline provides reliable support during minor corrections, indicating a well-structured bullish channel.
Falling Wedge Breakout Fuels Bullish Continuation
Technical analyst Lucky identified a classic falling wedge pattern from December 2024 through March 2025. This structure pointed to decreasing selling pressure and signaled an upcoming breakout. In January, Bitcoin tested the wedge’s upper resistance near $108,000 but faced a rejection. Subsequently, February’s decline toward $76,000 established firm support. March marked a key turning point, with Bitcoin bouncing from the $74,704–$76,000 range.
Source: Lucky
The breakout occurred in late March, triggering an explosive rally. Bitcoin then advanced rapidly through April and early May, reaching $110,939. The green ascending trendline now connects March lows with current prices, offering dynamic support. Moreover, increased volume during the breakout confirmed institutional participation. Bitcoin now trades above all key levels with upward momentum intact. Hence, the market outlook remains bullish with $115,000 as the next critical resistance.
