Technical indicators project a remarkable price leap for Bitcoin
109,761 by 2026, with renowned analyst “Cheds” forecasting a rise above $200,000, possibly reaching $250,000. Currently trading around $105,700, this bullish scenario resonated significantly within the cryptocurrency community.
Promising Weekly Cup and Handle Formation
The emergence of a “cup and handle” formation on the weekly chart is recognized as a classic bullish signal, indicating that the price accumulates energy while moving sideways before preparing for an upward move. Cheds highlights that this pattern has matured over recent weeks, suggesting increasing momentum among buyers.
The analyst also points out that Bitcoin has developed a substantial and enduring base within the $16,000-$70,000 range. This strong support line, established within a broad band, provides a resilient foundation for potential spikes, thereby enhancing risk appetite for both individual and institutional investors.
Power of Three-Year Consolidation
Cheds’ second indicator is the depth of consolidation that has persisted for three years. Despite occasionally appearing tedious, these prolonged sideways movements can herald significant price explosions. The analyst posits that Bitcoin could surpass $200,000 by 2026, with $250,000 also being a reasonable target under favorable conditions.
However, the analyst underscores that reaching the $250,000 threshold within 2025 is unrealistic. The slope and volume characteristics on the long-term chart exhibit that time is required for the ascent to materialize.
Market Volatility and Expert Warnings
Although the current price trajectory appears more stable compared to previous cycles, volatility remains high. This keeps investor interest piqued but also introduces the risk of sudden pullbacks.
Sector commentators caution that relying solely on technical signals can be misleading. Regulatory developments, macroeconomic data, and market sentiment can engender unexpected fluctuations in cryptocurrency values.
