In recent days, Bitcoin has experienced a notable spike in volatility, with prices swinging dramatically between key levels. According to data from CoinMarketCap, the leading cryptocurrency lost its footing around $90,000 but consistently attracted strong buying interest near the $85,000 mark. This has effectively created a volatile trading range that has investors on edge. Despite a slight increase in price over the past day, uncertainty among investors remains high, primarily due to a broader correction trend that has been underway since early October.

Market analyst Ted Pillows has been closely monitoring historical data to help navigate this precarious situation. In a recent post on X, he shared a technical analysis of Bitcoin’s price structure, suggesting that the cryptocurrency may be poised for significant gains in the short term. Pillows believes Bitcoin is currently mirroring a market setup reminiscent of the 2021-2022 period, which could see the asset approaching the much-anticipated $100,000 mark.

In his analysis, Pillows highlighted a head-and-shoulders pattern forming in Bitcoin’s price action. The left shoulder was created after Bitcoin peaked at $110,000 in January 2025. This was followed by a rally to a new all-time high of $126,100 in October, which he identified as the head of the pattern. This sequence bears a resemblance to the 2021-2022 cycle, where Bitcoin reached $63,600 (the left shoulder) in April 2021, $69,100 (the head) in November 2021, and $48,433 (the right shoulder) in March 2022.

Currently, Bitcoin appears to be in the final corrective phase ahead of the anticipated right shoulder formation. Pillows projects this could develop around the $100,000 level, suggesting a potential upside of 13.6% in the coming days. However, it's essential to note that the head-and-shoulders pattern is typically considered bearish, implying that if this setup completes, it could trigger a significant downward price movement similar to what was observed in the previous cycle.

In the 2021-2022 cycle, Bitcoin’s price plunged by nearly 50%, reaching lows of $22,000. Pillows anticipates that Bitcoin could see a decline of around 35% after hitting the $100,000 mark, which would translate to a bottom price target of approximately $65,000. This projection aligns with other cautious predictions, indicating that Bitcoin remains highly susceptible to future financial trends and could potentially fall to around $70,000.

As of now, Bitcoin is trading at approximately $88,168, reflecting a modest gain of 3.16% over the past 24 hours. However, the daily trading volume has decreased by 14.81%, now standing at $44.83 billion. This decline in trading volume may signal that investors are feeling tentative amid recent price fluctuations.

Adding to the prevailing sentiment, over 11,000 BTC were transferred to exchanges this week, suggesting a significant intent to sell among traders. Crypto analyst Ali Martinez reported that the BTC exchange balance has increased from 2.753 million BTC to 2.764 million BTC, now representing 13.84% of the total circulating supply.

In summary, Bitcoin's market landscape is fraught with uncertainty, yet a potential path toward $100,000 is emerging. Analysts, while cautious, are closely watching for any indicators that could confirm or refute this bullish scenario. Investors should remain vigilant and prepared for the possibility of both upward and downward price movements as this volatile market continues to unfold.