Bitcoin (BTC) Price Prediction: Bull Run Isn’t Over Yet, Analyst Says This Is Just the Setup

Bitcoin has been through a wild ride. After a +700% rally from the cycle low, Bitcoin tagged the $125,000 neckline, printed a bearish divergence, and corrected roughly 50% into structural demand. Now everyone thinks the bull run is over. 

But Crypto Patel says the 2-week chart says otherwise. He calls this a mid-cycle reset. The macro uptrend is intact. The cycle is resetting, not ending. The BTC price is currently near $78,268. 

The accumulation area is at $60,000 and $45,000, which correspond to the Fibonacci retracement levels of 0.382 and 0.5 respectively. The macro levels are $180,000, $250,000, and $350,000. The correction is a shakeout, not a reversal.

The 2-week chart just flashed mid-cycle reset

We had a look at the Bitcoin chart shared by Crypto Patel. The structure is massive. The BTC price is trading at $78,290, up 10.67% on the period on volume of 198.53k. The chart shows the entire cycle from the lows near $15,000 to the highs above $125,000. 

The bearish divergence at the top is clearly marked. That divergence led to the 50% correction down to the current levels. But Patel notes that the correction stopped right at structural demand. The accumulation area is identified from $60,000 to $45,000, representing the 0.382 and 0.5 Fibonacci retracement areas.

Neckline resistance can be found in the range between $150,000 and $180,000. This would be the next level to break through. On a breakout above, the main macro targets would be $180,000, $250,000, and $350,000. The bearish order block is between $90,000 and $98,000. The BTC price needs to clear that zone first before attempting the neckline. 

The 2-week chart shows that the macro uptrend is still intact. The correction is deep, but it has not broken the structure. Patel says this is a mid-cycle reset. The bull run is not over. It is just taking a breather.

What the Bitcoin daily and 4-hour charts show

The daily chart gives us a closer look. The BTC price closed the latest day at $77,834, down 0.51% on the session. The 100 day SMA sits at $73,517, acting as support. The daily chart shows Fibonacci levels extending up to $130,000 and beyond. 

The 2.272 extension sits at $74,245, which is just below current price. The 1.618 extension is at $92,453. The 1.272 extension is at $101,937. The 0.618 level is at $119,865. The 0.236 level is at $130,336. The daily RSI is at 63.80, bullish but not overbought. The BTC price has room to run.

The 4-hour chart shows the short term picture. The BTC price is trading at $77,834, up 0.21% on the session. The 100 period SMA sits at $74,518, well below current price. The 4-hour chart shows a break of structure to the upside, with resistance now acting as support. 

The Fibonacci levels on the 4-hour chart show support at $74,245 (2.272 extension) and $69,399 (0.786 level). The downside support sits at $66,977 (0.886 level) and $64,216 (1.0 level). The RSI is at 54.65, neutral. The BTC price is consolidating after the recent move up from the $70,000 zone.

The on-chain numbers don't scream bottom

The Glassnode data tells an interesting story. The number of active addresses on Bitcoin has been steady, bouncing between 540,000 and 660,000. That is not a spike, but it is not a collapse either. When active addresses hold steady, it means people are still using the network. 

The price drawdown from the all time high is still around 40% to 50%. That sounds scary, but here is the thing. In previous cycles, similar drawdowns happened right before the next big leg up. This is healthy.

The market cap has held steady near $10.1 trillion. No panic selling. No aggressive buying. Just steady, boring activity. And boring is often the calm before the storm. The on-chain data does not scream "bottom." But it does not scream "panic" either. It says the market is waiting. And waiting periods in Bitcoin often end with violent moves. 

Where could the BTC price go from here

The BTC Price is currently trading at $78,268. Accumulation zone ranges from $60,000 to $45,000. The first level of resistance is the bearish order block between $90,000 and $98,000. A break above that puts the neckline resistance at $150,000 to $180,000 in play. 

The macro targets are $180,000, $250,000, and $350,000. The downside risk is a break below the accumulation zone. If the BTC price drops below $45,000, the bullish structure would be in doubt. But Patel says the correction is a shakeout, not a reversal. 

The 2-week chart shows that the macro uptrend is intact. The mid-cycle reset is happening right now. The BTC price is the only thing left to decide if Patel's $350,000 target is a dream or a destination. 

CoinCodex's 1-month BTC price prediction places the price at $80,711, which sits about 3.5% above the current $78,000 level. That forecast sees a slow grind toward $80,000. Patel sees $350,000. Same BTC price today, two very different destinations.