Bitcoin nears a key technical indicator, and a successful breakout could lead to a significant price increase, according to an analyst.

Bitcoin's Golden Cross

Bitcoin is currently retesting the golden cross, a technical indicator historically associated with bullish price movements.

Potential for a Bullish Rally

The golden cross pattern has often signaled parabolic rallies in the past.

Breakout Threshold

Analysts suggest that a price breakout above $110,000 could potentially initiate another significant upward movement.