Bitcoin positions itself for the next level: analysts see $173,000 as the next target

The Bitcoin market dynamics have attracted the attention of technical experts, who point to an emerging bullish setup. EGRAG Crypto has shared a detailed analysis suggesting that current conditions bear significant similarities to those observed in 2019, a period that preceded major bullish movements.

Liquidity context supports the bullish scenario

The change in monetary policy marked a crucial inflection point. Since the Federal Reserve concluded its restrictive cycle in December 2024, approximately $13.5 billion has been injected into the banking system. This liquidity expansion serves as a potential catalyst for risk assets like cryptocurrencies.

Technical patterns in formation

EGRAG’s chart analysis reveals interesting features. Bitcoin is breaking out of an ascending channel that has been maintained for several years, while forming a sequence of progressively higher lows. This type of technical setup typically precedes significant directional movements.

Unlike the 2021 bullish cycle, where a single sharp peak was formed, current patterns suggest more of a gradual continuation of the upward movement, with no signs of immediate exhaustion.

Price targets on the horizon

Based on this technical and fundamental analysis, EGRAG projects a price target of $173,000 for Bitcoin. However, the most optimistic scenario envisions even higher reaches, potentially reaching $365,000 in the coming years.

With the current macroeconomic context and aligned market conditions, these price levels represent plausible stages within the evolving bullish market that is developing.