<p>Crypto analyst Crypto Jebb recently highlighted an inverse <a href="https://bitcoinist.com/this-valid-head-and-shoulders-pattern-could-be-devastating-for-bitcoin/" rel="nofollow">heads and shoulders pattern</a> that had formed on the Bitcoin chart. This bullish pattern indicates another rally may be on the horizon for the flagship crypto, which could send its <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-100000-cardano-dead/#:~:text=Why%20Cardano%20Is%20Dead,non%2Dexistent%E2%80%9D%20on%20it.">price to $100,000</a>.&nbsp;</p> 
<h2 id="how-could-bitcoin-could-rise-to-100-000">How Could Bitcoin Could Rise To $100,000</h2> 
<p>Crypto Jebb revealed in a <a href="https://www.youtube.com/watch?v=wSel4QnB_D4&amp;t=1s" rel="nofollow">video</a> on his YouTube channel that the inverse heads-and-shoulders pattern he had been predicting for a while had finally formed on the charts. He predicts this pattern could lead to a price breakout, <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crash-10-69000/">sending Bitcoin’s price to $70,000</a>. The analyst also noted that the price target of the bullish pattern is at $75,000, which indicates that Bitcoin could hit a <a href="https://bitcoinist.com/bitcoin-breaks-through-69000-setting-new-record/" rel="nofollow">new all-time high</a> (ATH) on its next leg up.&nbsp;</p> 
<p>Crypto Jebb mentioned that there is a “great degree of likelihood” that Bitcoin would experience a major rally, which would <a href="https://bitcoinist.com/bitcoin-breaks-through-69000-setting-new-record/" rel="nofollow">send it to $100,000</a> should it break its current ATH of $73,800. The crypto analyst believes that Bitcoin’s rise to that price level is very likely, considering that it has seen a “pretty large corrective movement” since hitting a new ATH over two months ago.&nbsp;</p> 
<p>The crypto analyst warned that there is a scenario where Bitcoin could also end up <a href="https://www.newsbtc.com/news/bitcoin/crypto-expert-arthur-hayes-says-bitcoin-has-found-its-local-bottom-but-can-it-hold-this-level/">trading sideways</a> between $60,000 and $64,000, which would signal a period of consolidation. He noted that Bitcoin could even drop lower during this period. However, Bitcoin’s outlook is generally bullish based on the technical indicators that crypto Jebb highlighted.&nbsp;</p> 
<p>The analyst highlighted the <a href="https://bitcoinist.com/bitcoin-price-suffers-sharp-decline/" rel="nofollow">Moving Average Convergence/Divergence (MACD)</a>, which he noted is turning “very bullish” on the daily chart and shows that the bulls are regaining control. He also claimed that Bitcoin is witnessing a ‘green red green’ formation on the daily chart, indicating that the crypto token is “doing very well.”</p> 
<h2 id="btc-is-in-very-bullish-territory">BTC Is In “Very Bullish Territory</h2> 
<p><a href="https://bitcoinist.com/can-bitcoin-surpass-70000-in-the-next-6-months/" rel="nofollow">Crypto Jebb</a> mentioned that Bitcoin is currently in very bullish territory, especially since Altcoins are also rallying. He claims this indicates a “great degree of confidence” in the market at the moment. The crypto analyst also noted that the stock market just broke an all-time high, which he stated is big news for Bitcoin.</p> 
<p>He explained that this is big news for Bitcoin because the flagship crypto follows the <a href="https://bitcoinist.com/analyst-bitcoin-a-better-option-than-mstr-stock/" rel="nofollow">stock market</a> and moves significantly whenever the stock market experiences a breakout. As such, with the stock market breaking its ATH, he expects Bitcoin to do so soon enough.&nbsp;</p> 
<p>Crypto Jebb further explained that the rationale behind <a href="https://bitcoinist.com/analyst-bitcoin-a-better-option-than-mstr-stock/" rel="nofollow">Bitcoin following the stock market</a> is that investors are more confident in investing in risk-on assets when they see that the risk-off (the stock market) is doing so well.&nbsp;</p> 
<p>Crypto Jebb predicts that Bitcoin will <a href="https://bitcoinist.com/what-safe-haven-bitcoin-behaves-like-risk-asset-during-evergrande-mayhem/" rel="nofollow">become a risk-off asset</a> in the next ten to twenty years. When that happens, he predicts that hundreds of billions of dollars in investment will be made in the flagship crypto.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/jPvwldSh/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

Bitcoin To $100,000: Infamous Head And Shoulders Pattern Appears To Signal The Start Of Another Rally

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