Gold just printed a new record high at $3,572 an ounce today on Wednesday. It’s a reminder that investors still flock to safe havens assets when uncertainty lingers. However, here’s where it gets interesting: Bitcoin is starting to show a similar kind of resilience.
Gold Price Chart – Source: TradingviewWhile gold strengthens on rate cut bets and macro risks, Bitcoin’s chart is flashing a technical setup we’ve seen in previous supercycles—patterns that often kick off multi-year rallies.
BTC/USD Short-Term Outlook
Bitcoin has broken out of its downward channel, a structure that capped price action for much of late August. What gives this breakout weight is the follow-through: strong green candles, a reclaim of both the 50-SMA ($110,252) and 200-SMA ($112,735), and momentum building with the RSI at 65—bullish, but not yet overbought.
Bitcoin 4-hour Price Chart – Source: TradingviewThe first real test sits at $113,576. If BTC clears that level with volume, I’d look for a run toward $116,000, and eventually $118,600.
On the flip side, support holds at $110,572 and $107,407. For those thinking trade setup, a long entry near $111,500–$112,000 with a stop just under $110,000 looks attractive, with targets at $116K and $118.6K.
Bitcoin (BTC/USD) Long-Term Supercycle Forecast
Zooming out, Bitcoin’s still moving neatly inside its ascending channel, supported by the 50-week SMA at $95,958 and the 200-week SMA at $42,877. The trend of higher highs and higher lows remains firmly in place.
Fibonacci extensions paint a pretty ambitious picture: first big resistance at $134,274, then $171,055, and a stretch toward $231,241.
With the weekly RSI at 62, BTC has room to run before hitting exhaustion. As long as it stays above $95,000, the structure points higher, with $171K as a realistic mid-term target. Break above $134K, and the path toward $230K–$250K opens up fast.
To me, the bigger takeaway is this: Bitcoin looks like it’s gearing up for the kind of move that defines cycles. Just like in past supercycles, what starts with a clean breakout can snowball into a parabolic phase.
If gold is setting fresh highs, Bitcoin might not be far behind—and this time, $250K could be just the first milestone.
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The post Bitcoin Price Prediction: Gold Hits All-Time High as BTC Flashes Classic Supercycle Setup – Is $250K Just the First Stop? appeared first on Cryptonews.