Bitcoin (BTC) Price Eyes $150K, But Short-Term Pullback Could Come First: Here’s Why

TLDR:

• Bitcoin forms a golden cross, often followed by a 10% dip before a rally.
• BTC dropped 8% this week, matching historical post-cross correction trends.
• $105K support is holding; a break above $106.6K could restart bullish momentum.
• RSI, MACD, and volume suggest mixed sentiment with potential for upward reversal.

Bitcoin is experiencing a slight correction following a bullish technical event known as the Golden Cross. Despite optimism about a continued upward trajectory, market data suggests a brief decline often follows this pattern. 

Recent price action aligns with historical trends, prompting some analysts to forecast a short-term dip before a stronger rally. With Bitcoin currently hovering around $105,000, market sentiment appears cautious but constructive.

Golden Cross Triggers Historical Pattern in BTC Price

The Golden Cross occurs when Bitcoin’s 50-day moving average climbs above the 200-day average, typically seen as a strong bullish signal. 

However, according to trader Cyclop, past cycles reveal a different pattern. He noted that BTC often dips by around 10% shortly after this crossover, before rebounding to new all-time highs.

In February 2021 and March 2024, Bitcoin followed a similar trajectory. Both instances saw price drops shortly after the Golden Cross, followed by sharp rallies. Cyclop explained that this pattern acts as a cleanout phase, shaking out weak holders before the real breakout occurs.

BTC broke above Golden Cross – strongest bullish pattern seen in all past cycles

Everyone thinks $140K is next.

But it doesn’t play out that way.

I studied every past scenario and all the market data: here's why small BTC dump is coming and what's next👇🧵 pic.twitter.com/RDC7eOJvXS

— 𝗰𝘆𝗰𝗹𝗼𝗽 (@nobrainflip) June 3, 2025

Bitcoin’s price dropped roughly 8% earlier this week, aligning with the expected pullback. The market began rebounding near the $104,000 to $105,000 zone, showing signs of buyer activity. 

Cyclop emphasized that although momentum above $110,000 appears exhausted, support around current levels remains strong.

The recent slowdown in reaction to positive news signals market fatigue at higher levels. Traders are now focused on whether the $105,000 support holds, as a bounce could initiate the next leg up. 

A decisive break above $106,673 may renew bullish momentum, while a fall below $102,268 could trigger a deeper correction.

Bitcoin Chart Shows Consolidation With Mixed Indicators

Bitcoin’s daily chart on TradingView indicates a phase of consolidation after its recent rally.

Price is currently trading at $105,380.6, slightly above the lower Bollinger Band, suggesting short-term support. The Relative Strength Index (RSI) sits at 53.44, signaling neutral momentum with no extreme conditions.

Meanwhile, the MACD indicator shows weakening bullish pressure, with the line slipping below the signal and negative histogram bars. 

BTC Daily price chart on TradingView

However, flattening histogram levels hint that selling may be slowing. Volume remains muted, reflecting market indecision and a potential pause in trend direction.

According to Cyclop, if Bitcoin maintains support above $105,000, a rally toward $150,000 remains likely. If the price slips under $100,000, a temporary correction toward $90,000 to $95,000 may occur. 

The overall market structure remains bullish, but traders are adopting a cautious approach amid near-term volatility. For now, long-term holders are focusing on blue-chip assets like BTC, ETH, and SOL while eyeing selected altcoins with strong fundamentals. 

With the Golden Cross now confirmed, all eyes are on the next major move in BTC’s price cycle.