Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Bitcoin’s performance in recent days has been nothing short of notablewith an impressive rally. The leading cryptocurrency has managed to surgepast $124,000 this week to register a new all-time high of $124,128 in the past 24 hours, according to CoinGecko data. Interestingly, technical analysis from a crypto analyst known pseudonymously as Stockmoney Lizards predicts that Bitcoin is now approaching a critical phase that will send its price over $300,000 by 2026. Bitcoin Reaches Pivotal Phase In Long-Term Trend
Stockmoney Lizards shared a long-termBitcoin macro chart that combines a price channel with a momentum oscillator in a post on the social media platform X. The analysis, which was done on the 2-week candlestick timeframe chart, shows that Bitcoin has been trading upwards within a rising parallel channel since 2012, with major cycle tops touching the channel’s upper resistance line. Related Reading Bull Case For Bitcoin At $300,000 Triggers After Reaching Critical Level 4 hours ago
Recent price action has seen the Bitcoin price climbing toward the midlineof the channel. According to the analyst, this is the most critical phase, and the current movement suggests it is about to repeat impulsive waves to the upside like both the 2018 and 2021 bull runs. Source: Stockmoney Lizards on X
Furthermore, the analyst pointed to a bounce on the oscillator at the bottom of the chart, much like it did in 2017 and 2020 before the rallies in the subsequent year. This oscillator, combined with recent technical factors, has led the analyst to forecast a potential base Bitcoin price target of $180,000 to $200,000 by early 2026, while leaving open the possibility of an even stronger rally. Path To A $300,000 Bull Case
Although Stockmoney Lizards noted that Bitcoin has matured and its market behavioris no longer a perfect mirror of past cycles, the market still has room for a “my-neighbor-just-asked-me-about-Bitcoin” type of frenzy phase. This stage, which is going to be characterized by a surge in mainstream retail interest, will be the one to generate the needed parabolic price surge for the bigger bull case. Related Reading Bull Case For Bitcoin At $300,000 Triggers After Reaching Critical Level 4 hours ago
If such a scenario unfolds, the analyst projected that Bitcoin’s bull case could extend beyond $300,000 before the current macro cycle peaks. Interestingly, the chart projection shows a price target as high as $350,000.
Bitcoin is already up by about 107% in the past year. Its rally in the past weeks is based on a few factors ranging from expectations ofFederal Reserve rate cuts to regulatory green lights for cryptocurrencies in retirement plans.A surge to $300,000 and $350,000 by 2026 would translate to another 145% and 188% increase, respectively, from the current price level.
At the time of writing, Bitcoin is trading at $121,685, up by 1.8% in the past 24 hours. It has retraced by 1.9% from its new all-time high of $124,128 about seven hours ago. BTC trading at $121,495 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com