Bitcoin Block Channel Reveals $400,000 Price Target – Details
Overview
The Bitcoin market is currently experiencing a significant price correction, which aligns with the broader trends in the cryptocurrency sector. Recently, Bitcoin recorded a notable price decline, trading at a reduced value before showing some signs of recovery. Analyst Gert Van Lagen has presented an on-chain trend that may indicate a potential revival of the bull market.
Recent Price Movements
In the past week, Bitcoin saw a decline of 10%, trading as low as $80,800. Following this, the cryptocurrency experienced a modest bounce, but it remains 32.79% below its all-time high. The current market sentiment favors distribution over accumulation among most investors.
Analyst Insights
In a recent post, Gert Van Lagen shared a positive outlook for Bitcoin, drawing on historical data from past post-halving movements. He utilized a long-term logarithmic chart of Bitcoin’s price against its block height to illustrate a regression channel that Bitcoin has adhered to since 2009. Van Lagen noted that Bitcoin typically follows a pattern after each halving, which includes an initial push above the midline of the regression channel, followed by an acceleration to a blow-off top at the upper boundary of the channel.
Currently, Bitcoin is trading just below this midline, which suggests potential for price appreciation. However, Van Lagen pointed out that Bitcoin has faced rejection at this midline on three separate occasions, each time resulting in a bounce off the 0.382 Fibonacci retracement line. Despite these rejections, he remains optimistic that Bitcoin will eventually make a decisive move above the midline resistance.
Future Projections
If Bitcoin manages to break above the midline, Van Lagen predicts it could rise to a price range of $350,000 to $400,000, which corresponds with the upper boundary of the regression channel.
Market Sentiment
Despite the current fears of a bearish market, Van Lagen posits that a true crypto winter would only begin after Bitcoin reaches its upper boundary target, signifying a market top. He anticipates that following this peak, Bitcoin may experience a crash to retest the lower trend line of the regression channel.
At the time of writing, Bitcoin is valued at $84,300, reflecting a 2.36% loss in the past day. Over the last month, the leading cryptocurrency has faced a price devaluation of 21.96%, indicating a volatile and cautious market environment.
Impact on the crypto market
- Bitcoin’s recent price correction reflects broader market trends, impacting investor sentiment.
- The analysis by Gert Van Lagen suggests potential bullish movements based on historical patterns.
- The rejection at the midline of the regression channel highlights current resistance levels.
- The anticipated price targets, if achieved, could significantly influence market dynamics.
- Ongoing volatility in Bitcoin prices may lead to cautious trading strategies among investors.
Updated: 11/23/2025, 2:01:17 AM
