Is The "Megaphone Pattern" Signaling A Bitcoin Surge To $300K ?

The crypto market has never been modest in ambitious forecasts, but a new technical analysis has stirred investors’ enthusiasm. A rare chart pattern, dubbed the “megaphone pattern”, is said to have been breached by bitcoin, paving the way for a potential rise up to 300,000 dollars by 2025. As crypto evolves in a climate of growing institutional adoption and some experts are no longer hesitant to compare it to gold, this forecast triggers as much optimism as skepticism.

A megaphone model fueling bullish frenzy

The megaphone pattern, or broadening wedge, is a technical figure characterized by a series of successive higher highs and lower lows, forming an expanding cone. According to analyst Gert van Lagen, the bitcoin allegedly breached the upper resistance of this model last November, a strong signal indicating an upcoming bullish acceleration.

Lagen also applies Elliott wave theory to refine his projection. He believes that bitcoin is currently in wave 5, often the most parabolic of bullish cycles. “Thanks to the application of Fibonacci ratios, we obtain an extension between 1.618 and 2.0 times the size of the previous wave, placing the price target between 270,000 and 300,000 dollars by the end of 2025,” he explains in a post on the X platform (formerly Twitter) on February 15, 2025. The analysis relies on gradually progressive accumulation bases, a structure that would establish a solid floor price before the next bullish explosion.

If this purely technical approach appeals to graphic analysis enthusiasts, it also raises questions about its relevance in a market influenced by multiple macroeconomic and geopolitical variables.

Bitcoin and gold : intersecting paths toward 400,000 dollars?

Aside from graphical analysis, some observers compare the evolution of bitcoin to that of gold, as they rely on a model of normalized capitalization. They suggest that if bitcoin follows the trajectory of gold, its valuation could rise up to 400,000 dollars in the medium term.

Institutional adoption reinforces this argument. Major banks like Intesa Sanpaolo are starting to incorporate bitcoin into their portfolios, while political figures, such as Donald Trump, are considering the creation of strategic reserves in BTC. This represents a paradigm shift, as bitcoin becomes a reserve asset, akin to gold in the past.

However, this comparison has its limits. Unlike gold, bitcoin remains subject to extreme volatility and regulatory uncertainties, particularly in the United States and Europe. The question remains: can bitcoin truly assume the role of a safe haven asset in the long term?

This technical analysis and the historical comparisons paint a bullish picture for bitcoin, but the path to 300,000 dollars is still fraught with obstacles. Institutional adoption could well be the decisive factor in this ascent, provided that the regulation and the macroeconomic context do not hinder the momentum. If the megaphone pattern theory proves accurate, the coming months could be crucial in confirming or refuting this scenario.