Bitcoin is once again testing the “golden cross,” a bullish technical pattern that has historically preceded major rallies. According to crypto market analyst Mister Crypto, the setup could mark the start of another strong upward move if Bitcoin holds above key support levels.

In a post on X, he noted that previous golden crosses in 2017 and 2020 triggered gains of 2,200% and 1,190%, respectively. With BTC currently trading around $110,000, the analyst believes maintaining this level could pave the way for a breakout.

“The setup looks incredibly strong,” he said, adding that a confirmed move above $110,000 could see Bitcoin “absolutely explode” in the coming weeks.

A golden cross occurs when a short-term moving average — typically the 50-day — crosses above a long-term moving average such as the 200-day. It’s viewed as a signal that momentum is shifting from bearish to bullish, often preceding sustained price growth.

Analysts Caution BTC Must Hold $110K

Not all analysts are calling for an immediate surge. Market watcher Mac warned that Bitcoin needs to hold above the $110,000 mark to avoid signaling the end of its current cycle.

In his analysis, the 4-hour Money Flow Index (MFI) appears “deeply oversold,” suggesting a short-term bounce may be due. “The risk-to-reward setup looks solid,” he said, “but I expect more sideways action next week rather than a major breakout.”

Meanwhile, Fundstrat co-founder Tom Lee commented on broader market conditions, noting that the recent stock market dip “may be overdue” after a 36% climb since April. He pointed to a sharp spike in the VIX — the volatility index — which rose 1.29%, marking the 51st largest increase on record.

Lee said such spikes often precede short-term recoveries. “If someone asks whether we’ll be higher a week from now,” he said, “I’d say the odds are pretty good.”

Trump’s Tariff Move Adds Pressure

Adding to market turbulence, U.S. President Donald Trump announced that his administration will impose 100% tariffs on all Chinese imports starting Nov. 1. The move is a response to Beijing’s new export restrictions on rare earth minerals.

China, which supplies about 70% of the world’s rare earth materials, will require export licenses for any product containing more than 0.1% Chinese-sourced minerals beginning Dec. 1. The policy shift has raised concerns about global supply chains and market stability, contributing to broader investor unease.