After the April rally, Bitcoin settled in a narrow range between $75,000 and $78,000. According to cryptocurrency analyst Kabuki, this move could represent a familiar phase seen in previous market cycles preceding an explosive rise.
Base Formation Signal Familiar Periodic Pattern
In his May 2 In this case, Bitcoin spent an extended period of time moving sideways after the initial rally. Often dismissed as indecisive, this stage served as a base formation area for strong hands to accumulate positions before the next leg-up.
🚨Why Bitcoin is stuck at $75,000-$78,000
This is not random. This is Bitcoin history repeating itself.
If you know the past, you know the future:
2017: Foundation formation → parabolic expansion
2021: Building a foundation → Parabolic expansion
2026: Same structure currently underwaythis… pic.twitter.com/YGSm0rbEVU
— Kabuki🔴 (@kabukstory) May 2, 2026
In 2018, Bitcoin consolidated for several months and saw a parabolic rise that reached its then-all-time high of $69,000 in 2021. A similar structure was seen in 2022, with the range-bound phase surging to new highs around $126,100. Fast forward to 2026 and the same pattern appears to be unfolding.
Bitcoin’s current range between $75,000 and $78,000 appears to be an accumulation phase, with market participants absorbing supply at relatively stable prices. But what appears to be a recession may actually be setting up for a price rise.
Bitcoin Goal: $400,000
Based on this cyclical framework, Kabuki projects Bitcoin’s long-term target at $400,000. These numbers may seem aggressive at first glance, but they are based on the scale of previous expansions with similar base formations.
In 2018, Bitcoin broke out of its accumulation range and recorded a price increase of 1,831.46%, reaching a 2021 high of $69,000. After leaving the buying zone in 2022, the price acceleration has also increased exponentially, registering a rise of 651.63% and now reaching an all-time high. If the current range near $75,000 to $78,000 serves as a basis, Kabuki projects a further 775.12% gain, which would result in a price valuation of $400,000 by 2029.
These forecasts are strongly supported by the broader market outlook, including asset maturity, institutional participation reflected in ETF inflows, and widespread adoption that may be encouraged by regulations such as the GENIUS Act and the highly anticipated CLARITY Act.
As of this writing, Bitcoin is trading at $78,379, reflecting a gain of 0.43% over the past seven days. According to analysts at CoinCodex, overall market sentiment has turned optimistic, with the Fear and Greed indices moving into neutral territory. These analysts expect Bitcoin to maintain its current upward trend, predicting a price of $84,219 over the next five days.
Featured image from Unsplash, chart from Tradingview
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