Bitcoin Price Prediction: A New All-Time High In The Making?

Cryptocurrency analyst Dan Gambardello has reiterated his Bitcoin price prediction range of $130,000 to $300,000 for the current market cycle. This forecast, which he has maintained for several months, is based on a large inverse head and shoulders pattern that has been developing since 2022.

Technical Analysis Backs Six-Figure Bitcoin Price Forecast

The analyst is optimistic about the market primarily due to the fact that a multi-year inverse head and shoulders pattern is complete.

Referring to his October 2024 analysis, when Bitcoin was trading at $61,000, Gambardello says that the pattern has played out as he forecasted.

The target price range is calculated from typical technical calculations for this pattern. The range low of $130,000 represents a straightforward measured move based on the head-to-neckline distance of approximately $15,000 and neckline-to-head distance of approximately $71,000. The high target of $300,000 is a longer projection using the same pattern.

After the breakdown at the neckline, Bitcoin has in recent times returned to challenge this level as a support. Gambardello attributes this to be common price behavior in bigger bull patterns. Such successful testing of former resistance as new support further confirms the pattern.

The analyst bases his Bitcoin price forecast on an examination of the M2 global liquidity index. It is increasing, and Bitcoin typically lags behind by 108 days. This correlation suggests that Bitcoin may continue to move higher to its all-time highs if this continues to hold true.

Critical levels to watch for near-term Bitcoin prices

To investors who observe day-to-day changes in the price of Bitcoin, the analyst divulges several crucial technical levels which may influence Bitcoin’s price within the coming few days. The most important of these is the 20-week moving average, currently around $92,000, which Bitcoin has recently reclaimed. Gambardello emphasizes the importance of how the weekly candle closes above this level, with “four days, eight hours left” at the time of his analysis.

Looking at potential resistance zones, the analyst points to the $95,000-$101,000 range, which represents a Fibonacci retracement level from the previous swing high to all-time high. This area could act as significant resistance before Bitcoin can make a sustained move higher.

On the downside, he cautions that a rejection at current resistance levels could trigger a pullback toward the 50-day and 20-day moving averages. The analyst notes that the 20-day moving average is preparing to cross above the 50-day, a bullish signal that often precedes throwbacks to these levels. Based on current positioning, this could mean a potential retracement to the $80,000 range in the coming days if resistance holds.

“If we get rejected, I’m going to anticipate a throwback somewhere to these moving averages,” Gambardello explains, adding that “we don’t know if it’s going to be the 50-day that it touches, if it’s going to be the 20-day that it touches.”

The 200-day moving average remains an important support level to monitor in this context, though the analyst places more emphasis on the shorter-term indicators for immediate price action.

Macro factors line up for sustained strength

Gambardello mentions some big economic forces that validate his positive view of Bitcoin. He believes that the expected resolution of the current uncertainty over tariffs and trade policies could bring back market confidence again.

The analyst also mentions the anticipated conclusion of Quantitative Tightening (QT) as yet another solid reason for the price of Bitcoin to increase. As this monetary policy becomes less restrictive, increased liquidity could flow into risk assets. “Liquidity just starts coming into these markets, Bitcoin going to all-time highs in my opinion,” he states.

The recent breakout from a key trend line on Bitcoin’s chart adds further support to the bullish case. Gambardello notes that historically, similar breakouts have led to “a very nice trend up.”

While acknowledging the possibility of near-term price fluctuations, the analyst maintains a clear long-term perspective: “Ultimately, everybody I’m zoomed out on all these Bitcoin charts. I think markets are going higher.”