Analyst Eyes $400,000 Peak, Here’s When

The market observer claims that despite the recent pullback, Bitcoin’s next cycle could reach $400,000, citing a recurring 3-month chart trend.

Bitcoin’s recent pullback from the all-time high of $126,200, according to CoinMarketCap, has not shaken bullish analysts, with some predicting the next high could hit $400,000.

The flagship cryptocurrency briefly hit a new all-time high on October 6 before dipping below $124,000, but market sentiment remains optimistic as traders prepare for what could be another explosive cycle.

The arguments in favor of a historical escape

According to market observer EGRAG CRYPTO, Bitcoin is forming a clear channel on its three-month chart, a trend that has occurred in the past and has been followed by a market breakout.

“Over the past three cycles, we have consistently seen a breakout at the end of these channels,” the analyst noted on X. “While diminishing returns are obvious, they are necessary for more sustainable price growth.”

He said even a “small incident” could push BTC up to $175,000, adding that the midpoint of the predicted channel is around $250,000 and the high is around $400,000.

“These figures are well within our reach,” says EGRAG.

Although Bitcoin has seen a recent decline, it has remained strong over long periods of time. It rose 7.0% last week and 96.8% last year. Observers like Michaël van de Poppe believe that the market is preparing for its next big rise, and that any drop below $121,000 is a good time to buy.

Navigating Immediate Market Uncertainties

But not everyone sees the way forward. Analyst JA Maartun said open interest in Bitcoin and altcoins was still high. This is something that hasn’t happened since December 2024, when prices stayed the same for months before falling more than 30%.

Similarly, pseudonymous trader Titan of Crypto warned that BTC’s short-term charts are giving mixed signals, suggesting a decline toward 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 short-term overextension indicators. But the overall sentiment remains positive, mainly due to widespread institutional adoption through ETFs and holders making massive profits.

Traders are nevertheless urged to keep a close eye on these conflicting signals, as the path to potential six-figure valuations may not be a straight line, but could be punctuated by periods of volatility and consolidation.