Bitcoin could stage a major recovery over the coming weeks and reclaim the psychologically important $100,000 level before the U.S. midterm elections, according to a crypto trader who believes the cryptocurrency is forming a bullish continuation pattern.
Trader Will Meade pointed to Bitcoin’s daily chart, describing the current structure as a “textbook high and tight flag.”
In his view, Bitcoin could continue moving sideways for the remainder of September before breaking out during October.
Textbook high and tight flag in Bitcoin. Probably will chop around until #Uptober October then will breakout and hit $100K before the midterms. pic.twitter.com/1TPwVX1dl9
— Will Meade (@thechartdr) September 17, 2026
The crucial timing
The timing gives Bitcoin a relatively narrow window. The next U.S. federal general election is scheduled for Nov. 3, 2026, meaning the forecast calls for Bitcoin to reach six figures within roughly six weeks.
Bitcoin is currently trading at roughly $76,500-$77,500, according to CoinMarketCap data. This means a move to $100,000 would require a substantial recovery from present levels.
The prediction comes after a turbulent year for the largest cryptocurrency. Bitcoin remains well below its record high of $126,198, which was set on Oct. 6, 2025. At current prices, $BTC is still roughly 39% below that peak.
The trader’s bullish case is based primarily on technical analysis. A flag pattern typically appears after a relatively sharp price advance. That initial move forms what traders call the “flagpole.” Instead of immediately giving back those gains, the asset then enters a period of consolidation, moving sideways or slightly lower within a relatively narrow range.
Instead of collapsing following the Clarity failure, $BTC has remained relatively contained around the mid-to-upper-$70,000 range. Bitcoin traded near $76,400 on Sept. 17 and remained around the same area on Sept. 18.
This sideways movement is not necessarily a sign of weakness. It could instead represent the consolidation phase before another push higher.
The second part of the $100,000 forecast revolves around seasonality. October has acquired the nickname “Uptober” among cryptocurrency traders because Bitcoin has historically performed unusually well during the month.
Seasonality, however, does not mean October automatically produces gains.
