 ▲ Bitcoin (BTC) surge / ChatGPT-generated image |
Bitcoin (BTC) has reportedly recreated a historic bullish pattern on its monthly chart, prompting a bold technical analysis projecting a future surge to the $500,000 level.
According to a February 26 report by NewsBTC, cryptocurrency analyst Egrag Crypto stated on X (formerly Twitter) that Bitcoin’s price is poised for an astronomical rally driven by the resurgence of a long-term moving average ribbon pattern. He emphasized that “the alignment of technical structures is having a greater impact on price formation than short-term market narratives,” identifying the second half of 2026 and 2028 as key breakout periods.
The core of the $500,000 projection lies in the reformation of a multi-layered moving average ribbon on the one-month chart. A chart shared by Egrag Crypto shows key moving averages—including the 33 EMA, 66 MA, 80 EMA, and 100 EMA—compressing and then beginning to expand again. This structure has historically served as a classic bullish signal at major cycle inflection points for Bitcoin. He noted that the current setup exhibits a fractal structure closely mirroring previous cycles, indicating a high degree of structural similarity.
Egrag Crypto highlighted that Bitcoin is currently maintaining structural stability above these layered moving averages. In past cycles, whenever Bitcoin reclaimed and held above this cluster of averages, sustained upward trends followed. Applying historical expansion multiples, he set an initial intermediate target of $150,000 and extended the upper bound of the final rally range to $500,000. Moving average indicators that guide Bitcoin’s price formation serve as objective benchmarks reflecting the market’s long-term cycles.
Regarding specific timing, Egrag Crypto pointed to October 2026 as a critical inflection point. If the currently forming ribbon fractal unfolds as in previous cases, this period could align with the beginning of a sustained price expansion phase. He also identified late Q3 to early Q4 of 2028 as a second major window, suggesting that macro factors such as the U.S. election cycle and technical structures could converge during that timeframe.
The Bitcoin market now appears to be standing at the peak of a massive technical cycle that extends beyond simple supply and demand dynamics. According to Egrag Crypto’s analysis, the current price consolidation may merely represent a compression phase preceding a significant breakout, with the $500,000 target emerging as the result of a repeatable cyclical pattern. Investors worldwide are closely watching whether the long-term technical structure will validate the $500,000 scenario beyond short-term shifts in market sentiment.
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.