Bitcoin Could Surge Over 337% Based on Classic Chart Pattern, Analyst Says

A well-known crypto strategist believes that Bitcoin (BTC) has the potential to skyrocket by more than 337% based on a traditional chart pattern. In a recent post on the social media platform X, pseudonymous analyst Cheds shares his analysis with his 330,400 followers.

According to Cheds, Bitcoin is currently forming a cup-and-handle pattern on the weekly chart, and based on classical charting rules, the cryptocurrency could reach close to $300,000 within the next two years. He states, “BTC visual of a bull thesis. Measured move for a weekly cup and handle would be roughly $280,000 BTC, likely sometime in mid-2026.”

Cheds acknowledges that his price target and timeline go against two widely held views on Bitcoin’s market cycles. One view suggests that the Bitcoin bull market will likely end in 2025 based on the four-year cycle, while another theory suggests that BTC is experiencing diminishing returns with each cycle.

However, Cheds implies that Bitcoin may have already hit the bottom of its recent correction after reclaiming the $61,500 level. He points to a decent volume cluster building on the four-hour chart and states, “flip $61,500 and it gets interesting.”

Analyzing Cheds’ chart, it appears that Bitcoin is showing a bullish trend following a fakeout to the downside. The chart also indicates a diagonal resistance at around $63,500.

At the time of writing, Bitcoin is trading at $63,438, with a slight increase in the past day.

Please note that the opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin or other cryptocurrencies. Transfers and trades are undertaken at one’s own risk, and any losses incurred are the responsibility of the individual. The article also clarifies that The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, and it is not an investment advisor.