Bitcoin Chart of the Day, New All-time Highs Approach – $170K in Sight?

The chart shows BTC price action climbing within a long-term ascending channel. Right now, Bitcoin is trading around $122K, brushing up against the midline of that channel. Dave’s model suggests a steady grind higher into late 2025, with the upper bound pointing toward that $170K target.

What’s interesting is that Dave calls this the lowball scenario. In a “manic, overheated” market — think retail FOMO, ETF inflows, and your Uber driver giving you altcoin tips — the price could rip well beyond that. The channel’s top edge even hints at the possibility of $200K+.

A conservative Bitcoin technical target of $170,000 in 2025, source: X

Bottom line: If Bitcoin holds this structure and momentum, the technicals support six figures as the new normal, not just a blow-off top. Whether we get the “conservative” $170K or the frothy moonshot depends entirely on how crazy the crowd gets. If you don’t already own Bitcoin, now could be the right time to buy Bitcoin before the price starts going exponential. 

Bitcoin is approaching a new all-time high above $123,000, source: Bitcoin Liquid Index

Remember, the team at Bitwise has predicted $200,000 as their Bitcoin price target for 2025. It’s looking more and more likely. 

Could we see a $200,000 Bitcoin in Q4 2025?