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Bitcoin has reportedly broken a year-long downtrend, marking a significant shift in its price trajectory. Analyst Gert van Lagen announced on September 21 that Bitcoin has printed its first higher high since reaching a peak of approximately $126,000, a development he interprets as a definitive break from the bearish trend that has persisted since late 2025. At the time of his analysis, Bitcoin was trading around $85,900, still about 30% below its all-time high.
In technical analysis, a 'higher high' indicates a price peak that surpasses previous levels, which is essential for establishing an uptrend. Van Lagen's assertion suggests that the previous pattern of lower highs has been broken, potentially signaling a shift towards bullish momentum. He maintains a long-term optimistic outlook for Bitcoin, with price targets ranging from $300,000 to $450,000, representing a potential increase of 3.5 to 5.2 times from current levels.
The recent rally has been supported by a golden cross in moving averages, where the 50-day moving average crosses above the 200-day average. Additionally, significant inflows into spot Bitcoin exchange-traded funds (ETFs) have been observed, indicating institutional interest in the asset. This surge in institutional capital, combined with substantial short liquidations, has contributed to upward price momentum. Furthermore, the Federal Reserve's recent policies have created favorable macroeconomic conditions for risk assets like Bitcoin.
Currently trading at approximately $86,000, Bitcoin is about 16% below the psychological barrier of $100,000. Analysts believe that a decisive move above this threshold could trigger increased retail buying and media attention, further propelling the price upward. The focus for traders will be on whether Bitcoin can maintain its higher high structure and reclaim the $100,000 level with strong conviction.
Source: KLEA News