There are more and more bullish assessments of BTC prospects in crypto social networks, with six-figure targets being drawn.
Dutch technical analyst Geert van Lagen, in his post on X (101.2 thousand subscribers), described a scenario in which the BTC price could go to the target zone of around $300,000:
«$BTC [1W] Stepped Education Update
Bitcoin forms an ascending expanding wedge at base 4, which breaks out to the upside 79% of the time.
In 67% of cases it is a continuation pattern and the trend is up. Target zone ~$300k on the sell line."
Van Lagen's chart shows Elliott waves, parabolic curves and other technical patterns. He attributes the key role in the current picture to the formation of the parabolic curve. Such a formation often signals that the market is ready for a powerful upward surge.
If you look closely, you can see several bases - the so-called "stages" that the price goes through before making a sharp jump. After Base 3 is formed, the market usually starts to accelerate. And now we are at a stage where very strong growth is possible - literally doubling the price in a short period.
Also on the van Lagen chart, several key levels of support, invalidation and trend confirmation are highlighted:
- Bull Market Support: $53,700 - This level is designated as a key support for the current bull market. If the price holds above this level, the bull market may continue.
- Validation Wave IV Final: $73,757 - This level serves as confirmation that the market is in the final stage of Wave IV. A breakout and hold of this level may confirm further growth.
- Invalidation Wave V: $31,046 - This is a critical invalidation level. If the price falls below this level, the uptrend scenario may be completely revised and a transition to a bear market is possible.
Also on the chart, the analyst points to an expanding wedge (which only the lazy bulls are not talking about now) and a forming bear trap.
The pace at which van Lagen expects to see BTC move is debatable. But we support his analysis both in the bullish mood and in the reality of the target of $250,000-300,000 in this cycle. However, unlike PlanB's estimates, for us these levels are seen as the maximum target in the cycle.
