The crypto market is flashing green today after two major catalysts sent bullish shockwaves through investor sentiment. First, the long-running Ripple vs. SEC case officially ended, with both parties filing a joint dismissal. Second, Bitcoin surged past $117,000 for the first time this August, reigniting speculation about just how high BTC can go this cycle.
Enter Crypto Patel, a well-known chartist who just made one of the boldest calls of the year – a technical target of $664,000 per BTC.
Bitcoin’s Massive Macro Structure: A 435% Move?
In a tweet posted alongside a long-term BTC/USDT chart, Crypto Patel outlines a textbook “inverse head and shoulders” pattern – one of the most powerful bullish reversal setups in technical analysis.
- The pattern stretches across multiple years, forming since the 2021 top.
- The “neckline resistance” sits around the $116K–$120K zone.
- A clean breakout above this neckline would trigger a measured move projection targeting $664,000 – a potential 435% rally from the breakout level.
This isn’t just hopium, Patel claims. The structure has symmetry, historical precedence, and technical credibility. The previous breakout from a similar pattern led to a 435% surge – from around $13,000 to $69,000 between 2020 and 2021. He’s now suggesting the same percentage gain from the current neckline level.
Crypto Patel: “It’s a Chart-Based War Zone”
“Bitcoin $664K Target Is Not a Joke. It’s a chart-based war zone… Break above the neckline, and the technical target stretches to $664K,” he wrote. “One breakout changes everything. Watch the neckline. Stay focused.”
Even though many analysts remain cautious due to macro uncertainties, Patel’s analysis highlights the strength of multi-year price structures that have historically played out once broken.
Will It Happen This Cycle?
That’s the big question. Crypto Patel himself admits it’s unclear whether BTC hits $664K in this cycle or the next – but he believes the setup is already in place. With ETF inflows rising, supply shrinking, and narratives like Bitcoin Layer 2s heating up, the stage may be set sooner than most think.d
Until then, all eyes are on the neckline, now sitting just above $116K. If Bitcoin confirms the breakout on high volume, this long-term chart could be the roadmap to an unthinkable six-figure target.
Read also: Bitcoin Hyper Breaks $7.5 Million in Presale – Best Altcoin Under $1 to Buy Now?
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