Bitcoin Price Could Hit $280K in the Next Major Rally: Heres How

From the analyst chart, the upper range of the projected Bitcoin price is between $150,000 and $280,000. It comes in tandem with the pattern of higher highs seen across previous cycles.

The decreasing cycle duration further supported the expectation of a new peak forming between late 2024 and early 2025.

Bitcoin Cycle Compression Indicates Market Transition

The chart analysis revealed a shortening duration between Bitcoins cycle tops, moving from 1500 days to 1400 days, and now potentially 1300 days. This compression pattern reflected a faster-paced market maturity and investor trend consistent with prior bull runs.

If the projected timeline holds, Bitcoin price is approaching the end of its 1300-day window since the 2021 high.

As with past cycles, the closing stages of the accumulation phase are marked by sideways price action followed by a sharp breakout.

Current positioning suggests that Bitcoin is nearing the bull run zone, where previous rallies began. Also, the price ascended exponentially toward the top resistance band in the prior cycle.

Technical Signals Align With Emotional Market Cycle

In a separate 4-hour chart analysis by Merlijn The Trader, Bitcoins short-term price movement supported the bullish BTC prediction. The crypto initially spiked out of a descending wedge pattern, generating what the analyst described as a bull trap.

The quick reversal was followed by a steep decline, aligning with the fear and despair phases of the market cycle.

BTC/USD 4-Hour Chart | Source: X

Volume surged during the breakdown, and BTC price broke through the lower trendline. However, the structure appeared to be resetting as Bitcoin consolidated.

According to the analyst, these moves often occur before a major breakout. If the pattern continues, it would reinforce the timing suggested by the long-term cycle model.

Upper Trendline Acts as Long-Term Resistance Target

The resistance line in the long-term chart of Bitcoin price held every bull run. BTC past highs, such as the other bull cycles in 2013, 2017, and 2021, retraced near this trendline.

If the same historical trend repeats, it is possible that the next top of the Bitcoin price may be tested again at this upper limit. Currently, the BTC price trend is still within the expected consolidation range.

Based on recent analysis, Bitcoin price may reach up to 200,000 in case global M2 liquidity keeps increasing. The recent uptrend in M2, together with a 10-week historical lag correlation with BTC, complemented optimistic on-chain indicators.

Over the past day, the leading cryptocurrency has rallied after plunging to an intraday low of nearly $118,300 to a high of close to $119,500.

Bitcoin price is now trading around $118,952, up 0.80% on the day, with trading volume rising over 25% to $58 billion.