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Bitcoin (BTC) has made headlines this week, surpassing the $111,000 mark and setting a new all-time high (ATH) amid a challenging close of the year’s first quarter with the cryptocurrency retracing below the $75,000.
As the leading cryptocurrency continues its upward trajectory, investors are left wondering how high it will climb and when it might reach its peak for this cycle. Market expert Gert van Lagen has provided a compelling analysis, suggesting that Bitcoin could soar to approximately $325,000 before July 5th.
Bitcoin Enters ‘Blow-Off Wave’
Van Lagen’s analysis shared on social media site X (formerly Twitter), relies on several key market conditions. He posits that Bitcoin is currently in what he terms a “Blow-off wave,” characterized by a steep angle of more than 82 degrees from the bottom of its price movement. This pattern indicates that BTC is likely to enter a period of rapid price appreciation.
The expert utilizes a symmetrical logarithmic chart to illustrate Bitcoin’s price range, which is currently situated between the $210,000 blocks—essentially the moving average linked to its Halving events—and an upper trendline that forms a rising wedge.
As seen in the chart above, each green impulsive wave on the chart can be further broken down into smaller blue impulses, showcasing the intricate patterns that often characterize Bitcoin’s price movements.
Analyst Predicts Continued Gains
Despite this, van Lagen cautions that the market’s progression hinges on the final wave of the bullish cycle being a single impulse. Should this final wave extend into a more complex formation, the peak could occur later than anticipated.
But beyond this possibility, the analyst considers it less likely due to the prevailing macroeconomic conditions, especially following President Trump’s de-escalation of its tariff policies, generally favor a more aggressive upward trend for the leading cryptocurrency.
As Bitcoin retraces slightly to around $109,545 following the new all-time high record, van Lagen mentions that the cryptocurrency has entered what he refers to as Stage 2.4: Trend Continuation.
This stage is crucial for confirming the bullish momentum, with a weekly close above $109,400, which could act as an immediate price support and as a key indicator of ongoing strength in the market.
Conversely, the analyst outlines potential invalidation scenarios that could derail this bullish outlook. A weekly close below $80,200 for the BTC price would signify structural weakness, while an extended time frame between the current stage and the previous accumulation phase could indicate a slowing momentum.
When writing, BTC trades at $109,545, registering a 15% surge in the monthly time frame and nearly 60% year-to-date.
Featured image from DALL-E, chart from TradingView.com
