In a landscape brimming with volatility, Bitcoin enthusiasts have their eyes fixed on a tantalizing target: a potential leap to $340,000. This ambitious forecast comes courtesy of a well-regarded analyst known as PlanD, who recently took to the social media platform X to share insights on Bitcoin’s trajectory. According to PlanD, the premier cryptocurrency’s bullish momentum hinges on maintaining a key support level between $91,000 and $100,000—an assertion that has crypto aficionados buzzing with anticipation.
The Road to $340,000: Support Levels and Patterns
PlanD’s analysis is rooted in Bitcoin’s historic price patterns. Since Bitcoin’s dramatic rise to a new all-time high of $111,970, the market has observed a retracement, with prices dipping below $104,000. Yet, PlanD remains optimistic, pointing to a “cup and handle” chart pattern formed over three years—a classic signal of a bullish continuation.
This pattern began with Bitcoin’s crash from $69,000 in November 2021, followed by a recovery until March 2024. The subsequent handle—a descending channel from March to October 2024—culminated in a breakout above $76,000 in November 2024. Despite a subsequent correction, PlanD asserts that as long as Bitcoin holds its ground above the $91,000-$100,000 support zone, the path to $340,000 remains intact. This optimism is shared by some traders who view the $300K BTC call as a favorite lottery ticket for the first half of the year.
Market Sentiments and Skepticism
While the market buzzes with excitement, there is a palpable undercurrent of skepticism. After all, the crypto world is no stranger to dramatic swings. As Bitcoin hovers around $104,739—nudging upwards by a modest 0.64%—it faces formidable resistance at $106,000 and $109,000, which could impede its upward trajectory.
However, the broader crypto community remains cautiously optimistic. “The cup and handle pattern is compelling,” shares crypto analyst Jordan Wright. “But Bitcoin’s notorious for its unpredictability. The key is maintaining that support level. Otherwise, we might see a more prolonged correction.”
Historical Context and the Path Forward
Historically, Bitcoin has been a rollercoaster of highs and lows, with each bull cycle pushing boundaries previously deemed improbable. The current cycle appears no different, with a supportive structure in place—at least according to PlanD’s analysis.
Yet, questions linger. Can Bitcoin maintain its support amidst a backdrop of regulatory uncertainties and macroeconomic factors? How will upcoming technological advancements and network upgrades influence its market dynamics? Recent surges past $94,000, driven by growing institutional interest, as detailed in our coverage of market optimism, suggest a positive outlook.
As June 2025 unfolds, traders and investors remain watchful, parsing every price movement and market signal for clues about Bitcoin’s next move. With trading volumes soaring—$40.03 billion in the past day alone—interest in the market is anything but waning.
Looking Ahead: What Will Define Bitcoin’s Next Steps?
The allure of a $340,000 Bitcoin is undeniable, but it’s a target fraught with challenges. Market participants will need to keep a close eye on key support levels and resistances that could either bolster or hinder this anticipated ascent.
Ultimately, Bitcoin’s future—like its past—will be shaped by a complex interplay of market forces, global events, and investor sentiment. Whether it reaches the lofty heights predicted by PlanD remains to be seen. But one thing’s for sure: the journey will be anything but dull.
Source
This article is based on: Bitcoin Tipped For $340,000 Target If This Support Level Holds – Details
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
