Bitcoin price has come back into the spotlight after a market analyst argued that a important cyclical signal has already appeared, potentially paving the way for a move towards $320,000. According to a post from @CryptoTice on X, the recent market structure suggests which Bitcoin has already completed its final cycle bottompositioning it for a new move towards the upper limit of a long-term price channel.
Bitcoin price channel points towards $320,000
The analyst’s view is based on a long-term upward channel that has guided Bitcoin’s price movement for years. In this pattern major market bottoms Tends to form near the lower limit, while strong rallies eventually push the price to the upper limit before the cycle heads back down. The structure suggests a repeating cycle where each decline creates a new base before the next big rise begins.
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Previous market cycles follow the same pattern. Bitcoin hit a major low around $2 in 2011, followed by a new low around $170 in 2015. The next cycle low appeared around $3,800 during the 2020 market crash.
The trend continued in later yearswith Bitcoin falling to around $15,000 in 2023 before a new recovery began. According to the analyst, the latest cycle bottom could have been around $60,000 in 2026, which again aligns with the lower limit of the long-term channel.
In previous cycles, rebounds from this lower level eventually pushed Bitcoin to the top of the channel. If the same structure holds, the current path places the upper limit near $320,000and that’s where the analyst thinks the next big spike could occur.
ATH retest pattern reappears as Bitcoin retains key structure
In a more recent post, same analyst be to another historical pattern that is becoming stronger Bitcoin’s Bullish Outlook. He compares Bitcoin’s 2017-2020 cycle to its current 2021-2026 structure, highlighting what he describes as a nearly identical range that unfolded after Bitcoin broke above its previous all-time high (ATH).
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According to the chart he posted, Bitcoin’s previous cycle saw the market break above the 2017 ATH before retesting this breakout zone as support. After holding this level, the market resumed its uptrend and rose from around $17,000 to almost $69,000. The analyst states that a similar structure has appeared again.
The latest setup shows Bitcoin revisiting its former ATH region in what is an ‘ATH retest’. Instead of falling below the level, the price action appears to be stabilizing around the former resistance zone, which the analyst interprets as confirmation that the broader bullish structure remains intact.
He compares both cycles side by side and emphasizes the similarity between the previous retest rally and the current formation. He further describes the development as “the launching pad” and believes that if the historical relationship continues in the same way, the current structure could support another structure. major upward movement in the price of Bitcoin.
Featured image created with Dall.E, chart from Tradingview.com