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.<\/p>\n
The setup hinges on a decisive weekly close above $83,000, followed by a retest that holds that level as new support.<\/p>\n
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.\u00a0The neckline sits at $83,000.<\/p>\n
Getting there, per EGRAG\u2019s 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.<\/p>\n \u201c$83K is the gateway,\u201d wrote the analyst. \u201cBreak it, hold it, and the Adam & Eve structure can trigger the next major expansion.\u201d<\/p>\n However, he did warn that a weekly close below approximately $51,000 would invalidate the whole setup.<\/p>\n Other traders have also chipped in with numbers of their own, including Ted Pillows, who pointed<\/a> to Bitcoin\u2019s 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.<\/p>\n But not everyone agrees the move up will continue, one of them being ChartNerd, who 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.<\/p>\n A separate 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n 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 when it went past $126,000.<\/p>\n That bounce has come alongside a resumption<\/a> in inflows for spot Bitcoin ETFs, after eight weeks of outflows, as well as improved sentiment following news that there has been some progress on the CLARITY Act\u2019s ethics language.<\/p>\n Bitfinex has flagged<\/a> $68,000 as the next test for the OG cryptocurrency. It says there\u2019s a reaction zone between $67,900 and $68,300 where short-term holders may look to sell, and that a real breakout will need spot buying rather than speculation to hold.<\/p>\n The post Bitcoin Could Rally to $173K if This Pattern Plays Out: Analyst<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" 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 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-202364","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/202364"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=202364"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/202364\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=202364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=202364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=202364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why Bitcoin Has Been Climbing<\/h2>\n