PiCK

Summary

  • James Son said Bitcoin is forming a bottom within an inverse head-and-shoulders pattern and could climb as high as $170,000 by the end of 2027.
  • He said a bullish trend would be confirmed if $73,000 is reclaimed and $87,000 is broken, with Bitcoin potentially reaching $117,000 by mid-2027 and $150,000 to $170,000 by year-end.
  • The recent plunge was a buying opportunity caused by leverage liquidations, he said, adding that the outlook would be invalidated if Bitcoin falls below $57,000.

Forecast Trend Report by Period

Bitcoin, which has plunged in recent sessions, may be forming a bottom and could rise as high as $170,000 by the end of 2027, according to macro analyst James Son.

In a post on X on Nov. 15, Son wrote that an inverse head-and-shoulders pattern remains intact on Bitcoin’s chart. He added that the cryptocurrency appears to be forming a third trough after earlier lows in January 2026 and June 2026.

An inverse head-and-shoulders pattern is a technical formation in which prices make three lows, with the middle trough the deepest. It is generally viewed as a sign that a downtrend could reverse into an uptrend.

According to Son, a bullish trend would be confirmed if Bitcoin regains $73,000 and breaks above $87,000. He projected that it could reach $117,000 by mid-2027, surpass its previous record high of $126,000 and climb to $150,000 to $170,000 by year-end.

He said the recent plunge was driven by leverage liquidations rather than any deterioration in Bitcoin’s underlying value, calling the decline a buying opportunity.

Still, he added that the outlook would be invalidated if Bitcoin falls below $57,000.

As of 12:35 p.m., Bitcoin was trading at $65,031, down 2.92% from a day earlier.

Uk Jin