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An analyst known for making timely Bitcoin calls believes that BTC will surge to an astronomical price level next year based on three technical signals.
In a new strategy session, pseudonymous analyst Cheds tells his 49,700 YouTube subscribers that Bitcoin looks strong on the weekly chart after breaking out from a cup-and-handle pattern.
In technical analysis, a cup-and-handle pattern is a bullish continuation structure indicating that an asset is primed to move higher after a period of consolidation.
The second bullish signal, according to Cheds, is that the uptrend appears technically sound based on how much time Bitcoin spent forming a solid base between $16,000 and $70,000.
And third, the trader says the depth of the consolidation range in the last three years is likely enough to sustain rallies above $200,000 in 2026.
“It’s still my base case, and this is just a very general outline. I think we have a pretty good chance of mid-$250,000 in 2026.
That seems kind of aggressive, I know. But the funny thing is that this has been a conservative target for some people because people are talking about [hitting $250,000] this year. Absolutely not. That’s crazy…
There is zero chance of $250,000 this year, but I think it’s a decent chance of mid-$250,000 just based on the height of the cup-and-handle [pattern], and the time interval and the consolidation range…
That’s still my general idea, just based on the weekly trajectory.”
Source: Cheds/YouTube
At time of writing, Bitcoin is trading for $105,706.
Generated Image: Midjourney
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