A widely followed crypto strategist believes Bitcoin (BTC) could soar more than 337% based on classic chart patterns.
Pseudonymous analyst Cheds told his 330,400 followers on social media platform X that Bitcoin appears to be forming a cup-and-handle pattern on the weekly chart.
Chez says that based on classic charting rules, Bitcoin could skyrocket to nearly $300,000 in about two years.
“BTC visual for a bullish theory. Weekly cup and handle readings will be approximately $280,000 BTC, likely sometime in mid-2026.”
trader highlight His price target and timeline contradict two widely held views about Bitcoin's market cycle. One is that the Bitcoin bull market is likely to end in 2025 based on his 4-year cycle, and the other is that BTC has seen decreasing returns with each cycle. It has to do with theory.
But on the other hand, Chez Imply Bitcoin may have already seen the bottom of its latest correction after recovering $61,500.
“A decent volume cluster is building for BTC on the 4-hour chart…a reversal of $61,500 will get interesting.”
Looking at the trader’s chart, he seems to be suggesting that Bitcoin is bullish following a fakeout to the downside. The chart also shows diagonal resistance near $63,500.
At the time of writing, Bitcoin is trading at $63,438, with only modest gains over the past day.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me XFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
