Bitcoin Chart Points to $106,000 Target by Late 2027

Bitcoin could be gearing up for a massive multi year rally according to a fresh technical analysis shared on TradingView. The analyst points to a giant cup and handle pattern that has been developing on the weekly chart since the market peak back in 2021. If the pattern plays out as expected, the leading cryptocurrency could reach a target of $106,000 by late August 2027.

While the long term outlook is exciting, traders are currently watching shorter timeframes for confirmation. Bitcoin recently traded near $79,500, but it still needs to secure a decisive weekly close above its 50 week moving average to officially complete the handle formation. Analysts warn that a final pullback could happen before any major breakout occurs, with support potentially sitting near the 200 week moving average.

Other market voices are echoing a generally positive sentiment for the near future. Crypto analyst Michaël van de Poppe noted that Bitcoin is consolidating in a healthy range, suggesting that any dips below $74,000 will likely attract buyers rather than spark a deeper crash. Meanwhile, an untested resistance level sits around $82,850, which could be the next immediate test for bulls in the coming weeks.