Bitcoin’s Bizarre Bounce: Will It Rocket to $360K or Crash Like Your Aunt’s Jenga Tower?

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Key takeaways:

  • Ah, behold the classic chart pattern-the inverse head-and-shoulders-that dares to dream of $170,000 to $360,000 in this cycle. Because what’s life without a little optimism and some technical mumbo-jumbo?

  • Spot Bitcoin ETFs are suddenly more popular than free canapés at a bankers’ gala, attracting the biggest inflows in two months as the suits rediscover their love for digital gold.

Bitcoin (or BTC, the financial enigma wrapped in code) has graciously presented not one, but two inverse head-and-shoulders patterns on its weekly chart-something analysts reckon signals the so-called “supercycle ignition” aiming for the lofty summit of $360,000. If you don’t believe in magic, at least believe in patterns that look like a distressed mannequin.

BTC price technical analysis puts $360,000 in play

For the uninitiated, an inverse head-and-shoulders pattern (IH&S) is a bullish chart formation consisting of three depressions: two modest “shoulders” flanking a dramatically lower “head.” When the price breaks above the neckline, it usually enjoys a parabolic surge, much like a champagne cork escaping a stuffy soirée.

Bitcoin’s weekly chart reveals not one, but two such notions of hope. The first, a modest trifle beginning November 2024, finished in a flourish last July when BTC leapt past the neckline at a staggering $112,000. The recent rebound only confirms this charade is still very much on stage.

The target derived from this pattern-a simple addition of the height to the breakout point-sits prettily at $170,000, a neat 49% increase from today’s figure. Not too shabby if you favor your fortunes with a hint of lunacy.

And then there’s the pièce de résistance: a grander IH&S, gestating since March 2021, suggesting Bitcoin may saunter even higher.

In November 2024, as the US elections provided the usual cocktail of drama and intrigue, Bitcoin decisively broke above the neckline near $73,000, achieving a milestone of $100,000 for the first time. How delightfully theatrical.

The subsequent tumble to $74,400 in April merely served to “test” this breakout like a nervous debutante asking, “Are you sure about this?” and promptly confirming it. If the script holds, Bitcoin could see $360,000 on the horizon-an astronomical 217% rise-because why not?

Merlijn The Trader, self-appointed oracle of the X platform, summed it up best, channelling all the drama of a Shakespearean tragedy and reality TV combined:

“This isn’t a pattern. It’s the supercycle ignition.”

For those who worship short-term thrills, CryptoMoon assures us a similar formation on the four-hour chart hints at a modest $120,000 target-provided the bulls don’t spill their cocktails below $113,000.

Institutional demand for Bitcoin recovers

Adding to the spectacle is the sudden resurrection of institutional love for Bitcoin, as money floods back into spot Bitcoin ETFs with the enthusiasm of tourists at a faux-Hollywood buffet.

For three consecutive days-Monday to Wednesday-these investment vehicles absorbed $1.15 billion, according to data from SoSoValue. Wednesday’s $752 million inflow was the largest since July, suggesting that the grown-up money is finally taking the crypto party seriously again.

As ever, Santiment-the market’s ever-watchful gossip-pointed out with insider’s glee:

“Money is moving back into Bitcoin ETFs at a rapid rate as retailers impatiently drop out of crypto.”

Oh, the sweet irony: institutional savvy swoops in just as the everyday speculators toss in their towels. Coincidentally, it’s these inflow spikes that have historically ignited previous rallies, much like a barroom brawl kicking off a proper party.

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2025-09-11 16:34