Fidelity's Jurrien Timmer stated that Bitcoin has completed its local bearish trend and is ready for long-term growth, with his latest technical report modeling a new bull market targeting $300,000 by 2029. Timmer supports this ambitious target with a Power Law model, noting that Bitcoin's defense of the critical $60,000 support level fully confirms the model's strength and opens the way to new all-time highs. The market's short-term trigger is a test of resistance in the $82,000–$86,000 range, with a decisive move above $82,500 expected to push the price toward the psychological $100,000 mark. The model evaluates Bitcoin using logarithmic linear progression and a 52-week Z-score of its ratio to gold, suggesting current price fluctuations are regular cycles. Fidelity reminds investors of the asset's high volatility and the importance of diversification.