Bitcoin to $73K Before Final Leg Up to $170K: Analyst Unveils Bold Timeline to Watch

A new projection from crypto analyst EGRAG suggests that Bitcoin (BTC) might tumble to $73,000 before its next major leg up.

The prognosis, revealed in a recent tweet, underlines important technical signals signaling potential short-term loss before a renewed rise.

Bitcoin Potential Drop to $73K: A Bearish Signal?

On the three-day chart, Bitcoin is presently forming a Bearish Engulfing Candle, per EGRAG. This technical pattern indicates that downward pressure may increase and is frequently seen as a reversal signal.

The analyst notes that Bitcoin may first reach $80,500 before testing $73,000 in the vicinity of this channel in early April, citing the blue channel as a key predictor of the cryptocurrency’s long-term trend.

While acknowledging the dangers of making snap decisions, the tweet stresses how crucial it is to monitor these chart patterns in order to gain insight into Bitcoin’s future.

A bearish engulfing candle is a technical pattern that traders watch for signs of trend reversals. It develops when a giant bearish candle completely consumes the previous bullish candle.

Interestingly, this pattern is currently playing out. Over the weekend, Bitcoin took a giant leap from lows at $78,000 to $95,000. However, at press time, Bitcoin is undergoing a major price correction. Its price has crashed significantly from its Sunday peak to as low as $83,100 today.

Bitcoin chart by Egrag

Market Sentiment and Outlook for 2025

Despite the potential for a short-term decline, EGRAG is optimistic about the general direction of Bitcoin. Following this retracement, the expert predicts that Bitcoin may begin its last leg up, which might result in new all-time highs.

In an earlier commentary, he suggested Bitcoin could rally to $170K after the projected dip. An analyst on Binance also shares this sentiment. He suggested that Bitcoin may touch $185,000 by the end of 2025 and hit $150,000 in the first half of the year.

Similarly, Tom Lee of Fundstrat previously predicted that Bitcoin would “do better than $150,000 this year,” suggesting a cycle peak beyond $150K

Lee’s earlier estimates indicate that Bitcoin may even reach $200,000–$250,000 in 2025. These long-term goals support the notion that Bitcoin is still in a solid uptrend despite brief declines, even though short-term volatility may push it down to $73,000 before it rises again.

Source