Analyst Predicts Bitcoin Price Will Top $320,000 | Crypto News
The Bitcoin price has once again entered the highlight after a market analyst argued that a major cyclical signal has already appeared, doubtlessly setting the stage for a transfer toward $320,000. According to a post by @CryptoTice on X, the current market construction suggests that Bitcoin has already accomplished its latest cycle backside, positioning it for another transfer toward the higher boundary of a long-term price channel.
Bitcoin Price Channel Points Toward $320,000
The analyst’s view is based on a long-term upward channel that has guided Bitcoin’s price motion for years. In this sample, major market bottoms have a tendency to kind close to the decrease boundary, while strong rallies ultimately push the price toward the higher boundary before the cycle turns downward again. The construction suggests a repeating cycle where each decline creates a new base before the next major rise begins.
Past market cycles comply with this same sample. Bitcoin fashioned a major low close to $2 in 2011, adopted by another backside around $170 in 2015. The next cycle low appeared close to $3,800 during the 2020 market crash.
The pattern continued in later years, with Bitcoin dropping to around $15,000 in 2023 before beginning another recovery. According to the analyst, the latest cycle backside could have fashioned close to $60,000 in 2026, once again aligning with the decrease boundary of the long-term channel.
In earlier cycles, rebounds from this decrease degree ultimately pushed Bitcoin toward the top of the channel. If the same construction holds, the current path locations the higher boundary close to $320,000, which is where the analyst believes the next major peak might happen.
ATH Retest Pattern Reappears As Bitcoin Holds Key Structure
In a more current post, the same analyst pointed to another historic sample that strengthens Bitcoin’s bullish outlook. He compares Bitcoin’s 2017–2020 cycle with the current 2021–2026 construction, highlighting what he describes as a practically an identical sequence unfolding after Bitcoin broke above its earlier all-time high (ATH).
According to the chart he posted, Bitcoin’s earlier cycle noticed the market break above the 2017 ATH before retesting that breakout zone as assist. After holding that degree, the market resumed its upward pattern and rallied from roughly $17,000 to practically $69,000. The analyst argues that a related construction has appeared again.
The latest setup exhibits Bitcoin revisiting its former ATH area in what is an “ATH retest.” Rather than breaking below the extent, price motion seems to be stabilizing around the previous resistance zone, which the analyst interprets as affirmation that the broader bullish construction stays intact.
He compares both cycles facet by facet, emphasizing the similarity between the earlier retest rally and the current formation. He additional describes the development as “the launchpad” and believes that, if the historic relationship continues to play out equally, the current construction might assist another major upward transfer in Bitcoin’s price.
Stay up to date with the latest trending crypto news! Visit our web site daily for the freshest Crypto news and content, fastidiously curated to keep you informed.
