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Bitcoin (BTC) has “well-formed” evidence, which suggests that its next all-time high will top out at $200,000, one analyst says.

In a tweet on Jan. 27, popular Twitter commentator Trader Tardigrade, also known as Alan, also revealed $70,000 as the next potential bear market bottom.

Stochastic indicator offers Bitcoin bulls historical firepower

For many, BTC price action is still bound by Bitcoin’s four-year halving cycles. The resulting price pattern offers one “all time high year” in every four, with 2025 next in line.

Bitcoin’s block subsidy halving will occur a year prior, and from then on, Alan argues, the path will be open to a giant $200,000.

That price tag came about from an analysis of Bitcoin’s stochastic oscillator, which syncs with cycle highs and lows in BTC/USD. Currently, the indicator is printing its latest trough, and if history is a guide, price behavior will do likewise.

Litecoin (LTC) has rebounded by 130% to almost $100 after bottoming out near $40.50 in June 2022. The primary reasons include broadly improving risk-on sentiment and euphoria around the Litecoin halving in August 2023.

However, technicals suggest that LTC may wipe out most of these gains in the coming months.

LTC price paints giant bear flag 

Litecoin stands to pare its gains mainly due to a giant bear flag on the weekly char. 

A bear flag is a bearish continuation pattern that occurs when the price consolidates inside an ascending, parallel channel after undergoing a strong downtrend. It resolves after the price breaks below its lower trendline with a rise in trading volumes

Litecoin has been painting a similar pattern since early June 2022. Previously, the LTC/USD pair had undergone a 70% price correction from $130 to $40.50. Thus, from the technical perspective, it would resume its downtrend course if its price breaks below the lower trendline.

Litecoin (LTC) has rebounded by 130% to almost $100 after bottoming out near $40.50 in June 2022. The primary reasons include broadly improving risk-on sentiment and euphoria around Litecoin’s upcoming halving in August 2023.

However, technicals suggest that LTC may wipe out most of these gains in the coming months.

LTC price paints giant bear flag 

Litecoin stands to pare its gains mainly due to a giant bear flag on the weekly chart.

A “bear flag” is a bearish continuation pattern that occurs when the price consolidates inside an ascending, parallel channel after undergoing a strong downtrend. It resolves after the price breaks below its lower trendline with a rise in trading volumes.

Litecoin has been painting a similar pattern since early June 2022. Previously, the LTC/USD pair had undergone a 70% price correction from $130 to $40.50. Thus, from the technical perspective, it would resume its downtrend course if its price breaks below the lower trendline.

Market analysts rely on many technical indicators to anticipate future trends, one of which is the very-popular ascending triangle chart pattern.

What is an ascending triangle pattern?

As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance.

The pattern typically appears during persistent uptrends or downtrends. Most technical analysts see it as a “continuation pattern,” meaning the general market trend is likely to resume.

For example, the Bitcoin (BTC) price chart above shows the BTC/USD trading pair forming an ascending triangle pattern between April 2020 and July 2020.

The BTC price breaks out of the triangle range in late July to the upside. It returns to retest the pattern’s resistance trendline as support in September for further bullish confirmation, resuming its uptrend.