Analyst Eyes $400K Peak, Here’s When

Despite the recent pullback, Bitcoin’s next cycle could reach $400,000, the market watcher says, pointing to a 3-month recurring chart pattern.

Bitcoin’s recent decline from a record high of $126,200, according to CoinMarketCap, has not shaken bullish analysts, with one predicting that the next peak could hit $400,000.

The main cryptocurrency briefly He hits It hit a new all-time high on October 6 before falling below $124,000, but market sentiment remains upbeat as traders prepare for what could be another explosive session.

The issue of historical breakthrough

According to market observer EGRAG CRYPTO, Bitcoin is formation A clear channel on the 3-month chart, a pattern that has occurred in the past and continues to do so Followed by market penetration.

“In the past three cycles, we have consistently seen a breakout at the end of these channels,” noted the analyst at X. “Although diminishing returns are evident, they are essential for more sustainable price growth.”

Even a “small blip” could push Bitcoin as high as $175,000, he said, adding that the middle of the expected channel is around $250,000, and the top is around $400,000.

“These numbers are definitely within reach,” EGRAG stated.

Although Bitcoin has… Experienced A With its recent decline, it has remained strong over longer periods. It is up 7.0% in the past week and 96.8% in the past year. Observers like Michael van de Poppe believe the market is improving ready For its next big rise, any dip below $121,000 is a good time to buy.

Navigating uncertainties in the spot market

But not everyone sees a clear path ahead. Analyst JA Maartun has He said Open interest in both Bitcoin and altcoins remains high. This has not happened since December 2024, when prices remained the same for several months before falling by more than 30%.

Likewise, the trader with the pseudonym Titan of Crypto to caution Bitcoin’s short-term charts are flashing mixed signals, indicating that a decline towards the Ichimoku cloud is possible if key resistance levels hold.

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As such, the current market is defined by the tension between a strong long-term technical pattern and near-term hyperextension indicators. But the overall mood remains good, mostly due to widespread institutional adoption by ETFs and holders receiving significant profits.

However, traders are asked to keep a close eye on these conflicting signals because the path to potential six-figure valuations may not be a straight line, but can be punctuated by periods of volatility and consolidation.