Jurrien Timmer, director of global macro at Fidelity Investments, has projected that Bitcoin could reach $300,000 by 2029. In a new technical analysis, Timmer identified several critical support and resistance levels, emphasizing that recent price behavior supports long-term growth for the leading cryptocurrency.
Institutional outlook and chart analysis
According to Timmer, Bitcoin has ended its local bearish phase and is displaying strong signals of recovery. The asset had previously experienced a sharp correction after hitting an all-time high of $126,251 in 2025, losing over half its value. However, Timmer described the subsequent formation of a double bottom in the $57,742 to $60,033 range as evidence the market successfully defended a vital support level.
Institutional investors have reportedly concentrated their attention on this reversal pattern visible on the weekly chart. Timmer refers to the $60,000 level as a “line in the sand,” stating that the market’s ability to hold above this threshold indicates that selling pressure may be easing.
Holding the $60,000 support confirms the strength of the Power Law model and opens the door to new all-time highs, with long-term mathematical trends backing large-scale buying activity.
Power Law model and future projections
Timmer’s outlook is heavily informed by the Power Law model, which leverages logarithmic linear progression and a 52-week Z-score relating Bitcoin’s price to gold. This model, he stated, suggests Bitcoin’s cycles are regular and mathematically grounded. Timmer noted that previous deep drawdowns of 56% and 63% in Bitcoin’s price still aligned with this framework.
Mini dictionary: Power Law model, a statistical approach often used in finance to describe the relationship between variables, here serving as a method to forecast long-term Bitcoin price behavior based on historic and logarithmic trends rather than linear progression.
The analyst pointed out that weekly stochastic signals, such as Fast %D and Slow %D, have now exited oversold conditions, further reinforcing the view that bullish momentum could be gaining traction. The immediate technical trigger, he said, is Bitcoin’s approach to the neckline of this reversal pattern, currently around $82,266.
| Metric | Value / Range |
|---|---|
| All-time high (2025) | $126,251 |
| Recent low | $57,742–$60,033 |
| Current resistance | $82,000–$86,000 |
| Key breakout level | $82,500 |
| Long-term target (2029) | $300,000 |
Risks, volatility, and market triggers
Fidelity has highlighted that a confirmed move above $82,500 would likely set off a technical push toward the significant psychological barrier of $100,000. Many institutional analysts see such a breakout as marking the end of the ongoing capital accumulation phase.
Despite the optimistic long-term target, Fidelity continues to caution that Bitcoin remains a highly volatile asset. Timmer and his team consistently remind investors that past performance does not guarantee future results and recommend maintaining strict diversification in investment portfolios.
Nevertheless, Timmer underlined that the mathematics behind his macro model offers a disciplined structure, suggesting Bitcoin’s cycles reflect measurable trends based on data, rather than short-term market sentiment.
Bitcoin’s trajectory, according to this analysis, is governed by strict mathematical principles rather than the emotional reactions of retail traders.
