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Bitcoin\u2019s bullish megaphone pattern suggests $144,000-$260,000 is in play this cycle.<\/p>\n<\/li>\n
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Signs of panic from BTC short-term holders hint at a potential local bottom.<\/p>\n<\/li>\n<\/ul>\n
Bitcoin price action has painted bullish megaphone patterns on multiple time frames, which may propel BTC to new record highs, according to analysts.<\/p>\n
BTC price can reach $260,000 this cycle<\/h2>\n
The bullish megaphone pattern, also known as a broadening wedge, forms when the price creates a series of higher highs and lower lows. As a technical rule, a breakout above the pattern\u2019s upper boundary may trigger a parabolic rise.<\/p>\n
Bitcoin\u2019s daily chart shows two megaphone patterns, as shown in the figure below. The first is a smaller one formed since July 11, and the recent rebound from the pattern\u2019s lower trendline at $108,000 suggests the formation is indeed playing out.\u00a0<\/p>\n
The pattern will be confirmed once the price breaks above the upper trend line around $124,900, coinciding with the\u00a0new all-time highs\u00a0reached on Aug. 14. The measured target for this pattern is $144,200, or a 27% increase from the current level.\u00a0\u00a0<\/p>\n
BTC\/USD daily chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/figcaption><\/figure>\n The second is a bigger megaphone pattern that has been forming for the \u201cpast 280 days,\u201d as analyst Galaxy\u00a0pointed out\u00a0in a Thursday X post.<\/p>\n
Bitcoin is trading near the upper trendline of the megaphone, which currently sits around $125,000. Similarly, a break above this level would confirm the pattern, clearing the path for a rally toward $206,800. Such a move would bring the total gains to 82%.<\/p>\n
Meanwhile, crypto influencer Faisal Baig\u00a0highlighted\u00a0Bitcoin\u2019s breakout from a giant megaphone pattern on the weekly time frame with an even higher measured target: $260,000.<\/p>\n
\u201cThe next leg up is inevitable.\u201d<\/p><\/blockquote>\n
\n
Bitcoin has broken out of this bullish megaphone pattern.<\/p>\n
The next leg up is inevitable.
IN SHAA ALLAH\u00a0pic.twitter.com\/iEIpKROSvv<\/p>\n\u2014 Faisal Baig Binance Usdt Signals (@fbmskills)\u00a0August 20, 2025<\/p><\/blockquote>\n
As Cointelegraph\u00a0reported,\u00a0Bitcoin\u2019s recent pullback to $108,000\u00a0is likely to be a shakeout before new all-time highs.<\/p>\n
BTC short-term holder metric hits April lows<\/h2>\n
Bitcoin\u2019s 12% drop from $124,500 all-time highs sent short-term holders (STHs) \u2014 investors who have held the asset for less than 155 days \u2014 into panic mode as many\u00a0sold at a loss.\u00a0<\/p>\n
This has had serious implications on the STH market value realized value (MVRV) ratio, which has fallen to the lower boundary of its\u00a0Bollinger Bands\u00a0(BB), signaling oversold conditions.<\/p>\n
\u201cOn the pullback to $109K,\u00a0$BTC tapped the \u2018oversold\u2019 zone on the short-term holder MVRV Bollinger Band,\u201d\u00a0said\u00a0analyst Frank Fetter in an X post on Thursday.<\/p>\n
An accompanying chart shows a similar scenario in April when\u00a0Bitcoin bottomed out at $74,000. The BB oscillator dropped to oversold conditions before Bitcoin started recovering and is up 51% since.<\/p>\n
Bitcoin STH MVRV Bollinger Bands. Source: Checkonchain<\/em><\/figcaption><\/figure>\n With the latest drawdown, the oversold STH MVRV suggested that the BTC price was due for an\u00a0upward relief bounce, possibly staging a similar recovery to April and August.<\/p>\n
As\u00a0it was reported, retail and institutional accumulation have now been at their highest since April\u2019s dip below $75,000, which could be another sign that $108,000 was a local bottom.<\/p>\n
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