{"id":5038,"date":"2026-07-30T22:32:28","date_gmt":"2026-07-30T22:32:28","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=5038"},"modified":"2026-07-30T22:32:28","modified_gmt":"2026-07-30T22:32:28","slug":"analyst-sees-bitcoin-reaching-220k-after-confirming-major-bullish-chart-pattern","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/07\/30\/analyst-sees-bitcoin-reaching-220k-after-confirming-major-bullish-chart-pattern\/","title":{"rendered":"Analyst Sees Bitcoin Reaching $220K After Confirming Major Bullish Chart Pattern"},"content":{"rendered":"\n
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A widely followed crypto analyst believes Bitcoin has completed a long-term technical formation that could pave the way for a rally to at least $220,000.<\/p>\n\n\n\n

Vivek Sen told his more than 270,000 followers on X that Bitcoin has successfully confirmed a multi-year cup-and-handle<\/strong> pattern after breaking above resistance and retesting the breakout level.<\/p>\n\n\n\n

According to Sen, the setup has been years in the making and now signals the beginning of a much larger move.<\/p>\n\n\n\n

\u201cThese breakouts don\u2019t typically produce 20% gains\u2014they often lead to moves of several hundred percent,\u201d he said, adding that $220,000 is the minimum price target<\/strong>.<\/p>\n\n\n\n

Historic Pattern Has Previously Preceded Major Bitcoin Rallies<\/strong><\/p>\n\n\n\n

The cup-and-handle is one of the best-known bullish continuation patterns in technical analysis. It forms a rounded \u201ccup\u201d followed by a shorter consolidation, or \u201chandle,\u201d before breaking above resistance. The projected price target is generally calculated by adding the depth of the cup to the breakout point.<\/p>\n\n\n\n

Bitcoin has produced similar formations in previous market cycles.<\/p>\n\n\n\n

During the 2020-2021 bull market, the asset formed a multi-month cup after falling from its 2019 highs into the 2020 market low. A consolidation phase during the summer of 2020 completed the handle before Bitcoin surged to its then-record high of nearly $69,000 in November 2021.<\/p>\n\n\n\n

Another large rounded bottom developed throughout 2022 and 2023 as institutional accumulation increased. By early 2024, Bitcoin traded sideways between roughly $60,000 and $69,000, forming another handle before eventually breaking above $100,000.<\/p>\n\n\n\n

Some analysts, however, believe the broader cycle has not yet fully played out, with October still viewed by many as a potential market bottom and turning point.<\/p>\n\n\n\n

Risk Indicators Paint a Mixed Picture<\/strong><\/p>\n\n\n\n

Market intelligence platform Swissblock recently reported that Bitcoin\u2019s Risk Index peaked in late June before falling into a low-risk zone, helping reduce selling pressure and stabilize prices.<\/p>\n\n\n\n

At the same time, analysts noted a growing divergence between Bitcoin\u2019s improving risk profile and the CBOE Volatility Index (VIX), commonly referred to as Wall Street\u2019s \u201cfear index.\u201d<\/p>\n\n\n\n

A rising VIX typically reflects growing uncertainty in traditional financial markets and can weigh on risk assets such as Bitcoin. Conversely, a lower and more stable VIX generally supports investor appetite for higher-risk investments.<\/p>\n\n\n\n

Swissblock cautioned that if the VIX continues climbing while Bitcoin\u2019s Risk Index also begins to rise again, market conditions could deteriorate.<\/p>\n\n\n\n

Sen\u2019s $220,000 forecast follows another high-profile prediction released this week that projected Bitcoin could reach as much as $450,000 by March 2028.<\/p>\n\n\n\n

Bitcoin Holds Steady Following Fed Decision<\/strong><\/p>\n\n\n\n

Bitcoin traded in a volatile range over the past 24 hours after the U.S. Federal Reserve left interest rates unchanged. The cryptocurrency briefly tested the $64,500 level three separate times before retreating to the upper-$63,000 range during Thursday\u2019s Asian trading session.<\/p>\n\n\n\n

Geopolitical tensions also remain on investors\u2019 radar after the United States resumed military strikes on Iran late Wednesday. U.S. Central Command described the operation as a response to what it called recent attempted Iranian attacks on American forces stationed in the Middle East, adding another layer of uncertainty for global financial markets.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A widely followed crypto analyst believes Bitcoin has completed a long-term technical formation that could pave the way for a rally to at least $220,000. Vivek...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5038","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/5038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=5038"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/5038\/revisions"}],"predecessor-version":[{"id":5040,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/5038\/revisions\/5040"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=5038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=5038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=5038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}