Bitcoin (BTC) has “well-formed” evidence, which suggests that its next all-time high will top out at $200,000, one analyst says.

In a tweet on Jan. 27, popular Twitter commentator Trader Tardigrade, also known as Alan, also revealed $70,000 as the next potential bear market bottom.

Stochastic indicator offers Bitcoin bulls historical firepower

For many, BTC price action is still bound by Bitcoin’s four-year halving cycles. The resulting price pattern offers one “all time high year” in every four, with 2025 next in line.

Bitcoin’s block subsidy halving will occur a year prior, and from then on, Alan argues, the path will be open to a giant $200,000.

That price tag came about from an analysis of Bitcoin’s stochastic oscillator, which syncs with cycle highs and lows in BTC/USD. Currently, the indicator is printing its latest trough, and if history is a guide, price behavior will do likewise.

The stochastic oscillator is a volatility tool, which compares closing prices to historical averages.

“Bitcoin well-formed structure with stochastic behavior indicates that the next ATH will be at 200K and next floor will be at 70K,” Alan summarized alongside an illustrative chart.

Responses to the post revealed a familiar divergence in opinions when it comes to Bitcoin’s future potential in U.S. dollar terms. 

Nonetheless, $200,000 may seem modest for some long-time market participants, that level being a mere 189%…