- Pepesso says Bitcoin remains in Wyckoff Phase B, with the key Spring phase yet to occur.
- He expects a rally toward $72K before a sharp drop below $55K shakes out weak holders.
- After accumulation, Bitcoin could recover strongly and eventually climb above $150K.
Analyst Pepesso believes Bitcoin has not yet reached the stage where large institutions will begin aggressive accumulation. According to him, the market is still following a classic Wyckoff accumulation pattern. Traders use this model to identify when large players quietly amass assets before an uptrend.
Bitcoin Still in Testing Support
Pepesso said many traders mistakenly view the $60,000 area as the final market bottom. He argues that Bitcoin remains in Phase B of the Wyckoff accumulation cycle, also known as the Secondary Test (ST).
During this stage, large market participants test support levels rather than aggressively building positions. Pepesso said Bitcoin’s recent drop into the low-$60,000 range, followed by a rebound, fits this pattern.
The repeated tests of support shake out weaker holders while helping institutions assess market strength. The analyst also stressed that the most important part of the pattern, the “Spring,” has not happened yet.
Spring Phase Could Push Bitcoin Below $55K
Pepesso’s roadmap suggests Bitcoin could first rebound into the $67,000-$72,000 range. Such a move could convince many traders that a sustained recovery is underway.
However, he expects that rally to fail. Bitcoin could then form a lower high before breaking below $55,000.
In Wyckoff theory, this would be the Phase C “Spring”. The Spring is a sharp move below support that triggers panic selling and forces weak hands out of the market.
Pepesso believes institutions often begin meaningful accumulation during this stage. This allows them to acquire Bitcoin at lower prices before a bigger bullish trend emerges.
His chart then shows a recovery through the Last Point of Support (LPS) phase, followed by a Sign of Strength (SOS) breakout. That sequence could eventually send Bitcoin into six-figure territory.
Analyst Targets $150K After Accumulation
Following the projected Spring and accumulation phase, Pepesso believes Bitcoin could climb toward $80,000 and eventually surpass $150,000.
He argued that institutions targeting exits above $150,000 would prefer to accumulate near $50,000 rather than at current prices. For that reason, he expects more downside volatility before the next major uptrend begins.
Pepesso also pointed to several past calls he considers successful. These include identifying the $16,000 bear-market bottom and forecasting a decline from roughly $83,000 to $59,000.
Has Bitcoin Already Bottomed?
Not all analysts agree that another decline is necessary. Some market participants believe last week’s drop to $59,000 may have marked the cycle low. Pepesso, however, argues that Bitcoin has yet to complete the Wyckoff Spring phase that typically precedes a sustained bullish breakout.
Related: Bitcoin Crash Ahead? Analysts Eye $53,600 as Demand Weakens
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