The primary cryptocurrency has recently made a few attempts to reclaim the psychological $80,000 level in the past week or so, but has been rejected.
Despite being in red territory today, one popular analyst identified a rare pattern that has historically been a precursor to a major uptrend. The question now is whether the setup will play out again or the bears will keep the upper hand.
Double or Triple-Digit Rally on the Way?
BTC has slipped by 2% over the past 24 hours, currently worth around $76,200. Several hours ago, though, the popular analyst Ali Martinez argued that the asset has formed a so-called “Morning Star” pattern on the monthly timeframe. As he explained, it is a candlestick structure that signals sellers are exhausted and buyers are regaining control.
“This three-period formation represents the transition from fear to indecision, and finally, to aggressive conviction,” he added.
Martinez noted that over the past three years, BTC has printed three Morning Star patterns on the high-timeframe charts, each followed by notable rallies: a 34% ascent in 2023, a 212% surge in spring 2024, and nearly 34% later that year. The analyst claimed that as long as the valuation stays above the “star” candlestick low near $73,000, “the structural bias is firmly to the upside.”
Another well-known industry participant who issued an optimistic prediction is Arthur Hayes. The co-founder of BitMEX and CIO of Maelstrom envisioned a pump to $125,000 by the end of 2026. He thinks rising global tensions may force governments to print more money to fund spending, thereby weakening fiat. In his view, this development could push people towards scarce assets like BTC, thus creating conditions for a sustainable rally.
Hayes also highlighted other factors that could trigger a resurgence, including credit deflation linked to artificial intelligence, possible changes in the Federal Reserve, and new expectations of how American banks may have to handle the country’s growing debt.
Is the Bottom Yet to Come?
Crypto X has been buzzing with users making forecasts that go far beyond Hayes’ outlook. Nonetheless, the veteran trader Peter Brandt recently poured a cold shower on those anticipating a jump to $250,000 sometime this year, ironically saying that they “need to stop with the mushrooms.”
Carl Moon and Rekt Fencer also chipped in. The former predicted a short-lived spike to $81,000 in the near term, followed by a “liquidity flush” to $70,000-$72,000. The latter assumed that BTC has not bottomed yet, claiming that a dip below $40,000 later in 2026 is not out of the question.
The post Bitcoin (BTC) Flashes a Rare Buy Signal: How High Can the Price Go? appeared first on CryptoPotato.
BTC may explode by over 200% if history repeats itself. Crypto Bits, Crypto News, Bitcoin (BTC) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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