Bitcoin is aiming for the $230,000 mark after breaking out of the 'cup and handle' pattern, while Solana targets a surge of 2,800%.

In a newly published report, renowned analyst Trader Alan has stirred the investment community with a bold forecast: if the classic breakout model occurs fully, Bitcoin could potentially reach $230,000. Not stopping there, he also set an ambitious price target for Solana (SOL), reaching up to $4,390.

Solana "waits" to break through with a target of $4.390

Bitcoin is entering a promising phase after seven weeks of consolidation in a narrow trading range, as expectations for a major breakout gradually increase.

According to Trader Alan – a famous analyst on platform X – a familiar technical pattern is playing a key role in the current developments, and so far, the market is operating exactly according to the scenario that the bulls are expecting.

"The monthly chart of Bitcoin and Solana is forming a cup and handle pattern," Alan shared, while emphasizing that the SOL/USD pair is currently trying to mimic the price behavior of BTC.

The cup and handle pattern is a classic bullish setup. It starts with a deep decline creating a bottom, then recovers to the previous peak ( forming the "cup" ), followed by a short-term accumulation phase ( the "handle" ), before the price breaks out strongly to new highs.

As Bitcoin Magazine reported, the BTC/USD pair has completed a long-term cup and handle pattern – starting from the peak in 2021, plunging in 2022, and then bouncing back strongly – with the first time reaching the $100,000 mark.

"BTC has broken out of the handle, while SOL is still waiting for confirmation signals," Alan commented, adding that Bitcoin has now surpassed its historical peak from 2021.

Comparing the BTC/USD pair with the SOL/USD pair | Source: Trader Alan/XBased on this model, Alan sets a price target for Bitcoin at $230,000, while Solana is expected to reach $4,390.

Bitcoin maintains its dominance, slowing the rise of altcoins

Although the target of $230,000 for the BTC/USD pair – equivalent to a 115% increase – is a significant figure, it still seems modest when compared to the bullish outlook for Solana, which is expected to see an increase of nearly 3,000%.

Weekly SOL/USD Chart | Source: TradingViewCurrently, the SOL/USD pair is fluctuating around the $150 level. Its all-time high – achieved in January 2025 – is $294, according to data from TradingView.

However, as the "altseason" ( the bull market of altcoin ) has not really kicked off yet, such a parabolic growth will have to overcome quite a few barriers. Notably, Bitcoin's dominance rate across the market continues to rise, now surpassing 65% - the highest since the beginning of 2021.

Nevertheless, as Bitcoin Magazine once analyzed, in the past when BTC reached a dominance rate of 70%, it was often a signal for the beginning of a strong breakout wave of altcoins.

Weekly BTC.D Chart | Source: TradingViewFamous analyst Rekt Capital also noted that this cycle could be different – altseason may come without Bitcoin reaching the 70% dominance level as it did before.

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