#Can BTC Break $110K?#

The $30,000 Trap in Bitcoin: Price is Preparing to Signal a Major Move!
Bitcoin (BTC) is moving towards a formation that signals a rise shortly after misleading investors as it has in previous periods with a bear trap.
A remarkable technical development is taking place in the Bitcoin (BTC) price chart. Bitcoin's 50-day simple moving average (SMA) is expected to surpass the 200-day SMA in the coming days, forming what is known as the golden cross formation. This development indicates that the short-term trend has become stronger than the long-term trend and potentially signals the beginning of a new bullish period.
This positive formation comes immediately after the death cross formation that trapped investors in recent weeks. Coindesk analyst Omkar Godbole emphasized that the current situation resembles the movements in August-September 2024 in his technical analysis. During this period last year, Bitcoin's price had reached a low of around 50 thousand dollars, and then it rose above 70 thousand dollars in November with the subsequent golden cross. In January, Bitcoin had seen a historical peak of 109 thousand dollars.
These technical signals in Bitcoin's price are accompanied by macroeconomic developments such as the increasing debt burden of the U.S. and the downgrade of American credit ratings by Moody’s. As concerns about the U.S.'s fiscal sustainability grow, investors are expected to see Bitcoin as an alternative safe haven. This could make Bitcoin even more attractive in the upcoming period.
Godbole noted that past performances do not guarantee future results and reminded that technical analyses can be misleading. However, the combination of both macroeconomic conditions and technical indicators in a positive direction supports a strong bullish expectation for Bitcoin. Investors are focused on a significant rise signal of 30 thousand dollars, similar to what could come after the fall trap.