31分钟前
· CryptoPotato
Bitcoin Could Rally to $173K if This Pattern Plays Out: Analyst
Crypto analyst EGRAG CRYPTO posted on X on Wednesday that Bitcoin (BTC) is forming an Adam and Eve double bottom on its weekly chart, a pattern that is not yet confirmed but could open the door to $173,000 if it plays out.
The setup hinges on a decisive weekly close above $83,000, followed by a retest that holds that level as new support.
According to EGRAG, the double bottom is forming inside the $51,000 to $67,000 support band, with an aggressive V-shaped low forming the Adam side and a slower, rounded base forming the Eve side. The neckline sits at $83,000.
Getting there, per EGRAG’s <a href="https://x.com/egragcrypto/status/2079836587953664226?s=20" rel="nofollow" target="_blank">roadmap</a>, means holding the current bottom, reclaiming $68,000, then breaking and retesting $83,000 before the move can extend toward $103,000, then $120,000 to $126,000, and finally $173,000.
“$83K is the gateway,” wrote the analyst. “Break it, hold it, and the Adam & Eve structure can trigger the next major expansion.”
However, he did warn that a weekly close below approximately $51,000 would invalidate the whole setup.
Other traders have also chipped in with numbers of their own, including Ted Pillows, who <a href="https://x.com/TedPillows/status/2079850959162032528?s=20" rel="nofollow" target="_blank">pointed</a> to Bitcoin’s daily Supertrend flipping green, noting that the last time that happened, BTC gained almost 15% in four weeks, and a repeat would put it near $76,000 by August.
But not everyone agrees the move up will continue, one of them being ChartNerd, who <a href="https://x.com/ChartNerdTA/status/2079848423029719364?s=20" rel="nofollow" target="_blank">called</a> this rally a countertrend move back in April. According to him, the 200-week EMA near $68,000 could be the local top before a final drop into late Q3 or Q4.
A separate <a href="https://axeladlerjr.com/volatility-has-fallen-31-in-july-leverage-is-declining-liquidation-cascade-risk-has-decreased/" rel="nofollow" target="_blank">note</a> from Axel Adler Jr. added some nuance: realized volatility has fallen 31% this month to its lowest since 2016, and leverage, measured by open interest against market cap, has declined for 21 straight days, a combination he says makes the current bounce of more than 11% off the June 30 low near $59,000 less prone to a forced liquidation cascade.
Meanwhile, Markus Thielen, in a report for BIT, said implied volatility on Bitcoin and Ethereum options has climbed back to 36% after dropping to 31% from 44%, a shift he read as rising demand for upside calls heading into the usually quieter summer months.
BTC was trading near $66,000 at the time of writing, down slightly on the day but up over 2% in the past week and close to 3% in the last month.
Data from CoinGecko shows that at one point, the asset came within touching distance of $67,000 before it was dragged back to its current level, which puts it about 47% below its all-time high from October 2025 wh