Bitcoin’s remarkable surge from $77,000 to $110,000 may be just the beginning, according to renowned crypto analyst Doctor Profit, who accurately predicted the recent rally. A powerful technical indicator suggests Bitcoin (BTC) could reach new heights of $117,000-$120,000 in the coming weeks, backed by strong institutional demand and favorable market conditions.
Golden Cross Pattern Emerges as Key Bullish Signal
The emergence of a Golden Cross pattern on Bitcoin’s chart has become the centerpiece of this bullish forecast. This technical formation has historically preceded major price rallies, with Doctor Profit noting an impressive 87.8% accuracy rate on higher timeframes.
Historical data supports this optimistic outlook:
- October 2023: 170% surge from $27,000 to $73,000
- October 2024: 73% gain from $63,000 to $109,000
- May 2025: New pattern formation above $110,000
Institutional Demand Drives Price Momentum
Beyond technical indicators, several fundamental factors support the continued upward trajectory:
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ETF Inflows Reach Record Levels
Spot Bitcoin ETF demand has reached unprecedented levels, with daily inflows now exceeding mining production by 9x. This supply-demand imbalance continues to drive prices higher, while institutional accumulation reduces available market supply.
Price Targets and Technical Levels
Doctor Profit outlines several key price levels:
- Immediate target: $113,000 (3.71% from current levels)
- Major liquidity cluster: $113,000
- Ultimate target range: $117,000-$120,000
FAQ Section
What is a Golden Cross pattern?
A Golden Cross occurs when a shorter-term moving average crosses above a longer-term moving average, signaling a potential bullish trend reversal.
How reliable are these price predictions?
While past performance doesn’t guarantee future results, the Golden Cross pattern has demonstrated an 87.8% accuracy rate on higher timeframes.
What could prevent Bitcoin from reaching these targets?
Market volatility, regulatory changes, or macroeconomic factors could impact Bitcoin’s price trajectory.
As Bitcoin continues its upward momentum, investors should monitor key technical levels and institutional flows while maintaining appropriate risk management strategies.
