Could this be the end of the crash as the Bitcoin price is starting to consolidate above the $112,000 horizontal support? As gold makes constant new all-time highs, Bitcoin could be about to follow in its footsteps. In order to do so, a couple of trend breaks need to take place. The Bitcoin price is currently at the first of them.
Potential trendline breakouts
Source: TradingView
Looking at the 4-hour time frame for the $BTC price it can be seen that the first trend break is actually in progress. If this is successful, further consolidation above $112,000 can occur, and the price is then likely to move up to the $116,000 horizontal resistance. A break of this level could coincide with the second trendline (faint dotted line). A breakout of both could then send the $BTC price back to the all-time high and the major ascending trendline (bold black line).
Bitcoin is near all-time high correlation with gold
Source: TradingView
The gold chart is a sight to behold. Moving into a parabolic, straight up formation, gold could have $5,000 in its sights. Given the huge central banks purchases of gold rather than treasuries, a $5,000 gold price may even be attainable by the end of this year.
Bitcoin is now highly correlated with gold, with the $BTC to gold correlation almost at an all time high at 0.85, according to CryptoQuant. With Bitcoin’s scarcity far greater than that of gold, it may not be much longer before $BTC starts catching up to gold.
Bitcoin uptrend still intact
Source: TradingView
The weekly chart for the $BTC price shows that the trend is still up. Had the Friday crash not been bought up this trend could have reversed and things would have been looking seriously bearish. As it stands, this week’s candle could put in yet another higher low, so at least for the time being the bull market is still progressing higher.
The bottom of the chart is most important. The Stochastic RSI indicators have crossed back to the downside again. Could it be that a big Bitcoin rally will need to be put on hold for the next two to three weeks until the indicators make their way back down to the bottom? Or will a sudden spike in the price action turn the indicators back around before they get there?
All speculative ideas. However, the main thing is that the trend is intact and the price is still being funnelled into a narrowing space between the major 8-year trendline above, and the smaller 5-month ascending trendline below. In which direction the price breaks should determine the continuation or termination of this bull market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2025/10/bitcoin-btc-to-track-gold-trend-breaks-on-the-horizon
