A trading expert has forecasted that Bitcoin could reach $100,000 by early November 2027, based on historical patterns and technical indicators. This outlook comes amid a recent sharp decline in Bitcoin's price, triggered by coordinated military strikes by the United States and Israel on Iran. The cryptocurrency fell as much as 6% following the geopolitical tensions.
Bitcoin has been in a bearish phase, marked by five consecutive monthly red candles since its October all-time high. According to a TradingView post by TradingShot on February 27, this pattern has only appeared twice before, in November 2011 and December 2018, both times signaling the end of a bear market.
The analyst emphasized that the red-candle streak alone does not confirm a bottom. Instead, the Fisher Transform indicator on the one-month chart has proven more reliable for identifying cycle lows. Past bullish crosses occurred in mid-2015, early 2019, and late 2022, with roughly 1,370 days between the 2019 and 2022 signals. If this interval persists, the next cross could happen around September 2026.
Historically, Bitcoin's price bottom forms just before these crosses. For instance, the December 2022 low preceded the signal by one month, while the June 2015 bottom came five months earlier. Applying the shorter lag points to a potential low in August 2026. From there, the expert anticipates a bull cycle similar to prior recoveries, potentially pushing Bitcoin past $100,000 by early November 2027.
In the immediate term, Bitcoin experienced a significant drop on Saturday after the U.S. and Israel conducted strikes on Iranian nuclear and military targets. President Donald Trump confirmed U.S. involvement in what he described as "major combat operations." The cryptocurrency slid 6% from around $65,500 to $66,000, erasing $75 billion to $128 billion from the total crypto market capitalization in the first hour.
Heavy liquidations followed, totaling $100 million to $522 million, including $100 million in long positions within 15 minutes. Ether declined 4.5% to 8.8%, reaching about $1,835 to $1,850, while altcoins like XRP and Solana saw even larger losses.
At the time of reporting, Bitcoin traded at $63,935, down more than 4% over 24 hours and 6% for the week. Key support lies between $60,000 and $65,000, with a break below possibly leading to $55,000. Resistance is at $68,000 to $70,000.
