Key Insights:
- According to a top analyst, Bitcoin (BTC) price rallied by 3x in five months, the last time the U.S. government reopened a shutdown.
- Ali Martinez predicted that a rebound toward the $112,000 region could complete a head and shoulder pattern’s right shoulder, setting up a critical test of the $100,000 neckline.
- Meanwhile, the $112,000 price level might tempt late buyers, especially those expecting another breakout toward new highs
A top analyst spotlighted a familiar setup on the Bitcoin price chart during the previous U.S. government shutdown. According to the analyst, BTC price rallied by 3x the last time a shutdown was reopened.
If the reopening ends up being the catalyst of a similar rally this season, the price of the largest cryptocurrency could rally past the current high and hit the $300,000 level.
Bitcoin Price May Hit $300,000 if Historical Performance Repeats
The chart shared by Ashcrypto highlights a fascinating historical pattern in Bitcoin price behavior. Back on January 25, 2019, when the U.S. government finally reopened after a long shutdown, BTC price was scraping the bottom near $3,200.
Then things turned fast within five months, and it rocketed almost 300%, topping out around $13,000 by mid-year.
The rally unfolded as investors began to exhale, but the government reopening wasn’t the direct trigger. It just matched the overall change in market mood.
For traders, it was a sign that stability was returning, and money began chasing speculative plays once more.
If we see the same kind of setup now, history might not repeat exactly, but it could definitely play out. Bitcoin price tends to thrive in periods of easing uncertainty and improving liquidity.
Should another government reopening or fiscal shift occur, the same psychological and macroeconomic forces could come into play, potentially setting the stage for an explosive move.
While no two cycles are identical, the 2019 rally serves as a reminder that BTC’s most powerful runs often begin when traditional markets least expect them.
A renewed wave of optimism could, once again, send the world’s largest cryptocurrency soaring toward new all-time highs, and perhaps, as some analysts suggest, even toward the $300,000 mark.
Traders Eye Potential Head and Shoulder Bitcoin Price Pattern
Bitcoin price chart appears to be shaping into a classic head-and-shoulders pattern, one of the most closely watched reversal formations in technical analysis.
According to analyst Ali Martinez, a rebound toward the $112,000 region could complete the pattern’s right shoulder, setting up a critical test of the $100,000 neckline.
If that neckline gives way, the breakdown target for BTC price sits near $83,000, a level that would align with the broader structure of the pattern.
The market’s behavior around this zone will be crucial. A push to $112,000 might tempt late buyers, especially those expecting another breakout toward new highs.
But as trader Joe noted during the discussion, that kind of move could easily turn into a bull trap, drawing in eager buyers before the next leg down
Still, crypto rarely moves in straight lines. The BTC market is already on edge, and setups like this often lead to fakeouts, a quick flush below support, then a sharp bounce that wipes out overleveraged traders before any real trend takes shape.
For now, it’s a waiting game as bulls and bears tug each on the direction the Bitcoin price should move.
The structure is developing, and the neckline remains the battleground. As always, charts don’t lie, but they do have a way of testing conviction before revealing their true direction.