Bitcoin to Hit $106,000 by Late August 2027: TradingView Analyst
A TradingView analyst has identified late August 2027 as the potential timeframe for Bitcoin to reach $106,000. The forecast is based on a weekly chart that shows a large cup and handle pattern forming since the 2021 market peak. This formation is commonly associated with bullish breakouts and trend continuation.
The cup portion of the pattern developed between November 2021 and late 2022, while the handle has formed as a downward-sloping channel during the current consolidation phase. A key level to watch is the 50-week moving average (MA), which Bitcoin recently traded above but failed to close above in its last two weekly candles.
A decisive weekly close above the 1W MA50 would confirm completion of the handle pattern and signal a new bull cycle, with the chart projecting a move toward $106,000 by late August 2027. However, if buyers reclaim the 1W MA50, Bitcoin could see one final pullback into October before resuming its advance.
Cryptocurrency analyst Michaël van de Poppe agrees that Bitcoin remains in a consolidation phase and believes any decline below $74,000 would present a buying opportunity rather than signaling a broader trend reversal. He also highlighted $82,850 as a key untested level, suggesting Bitcoin could challenge that resistance zone in the coming weeks.