"BTC/USD: Bullish Cup and Handle Pattern Suggests New Highs
In this analysis of Bitcoin (BTC) against Tether (USDT) on the daily chart, I've identified a classic Bullish Cup and Handle pattern. This pattern indicates a potential bullish breakout, with the handle forming a bullish rectangle. Here's a breakdown of the key points:
Cup Formation: The cup began forming around early 2022 and was completed in mid-2023, showing a well-rounded bottom, suggesting a strong accumulation phase.
Handle Formation: The handle, forming as a bullish rectangle, indicates consolidation with an upward bias, giving further strength to the bullish outlook.
Breakout Target: Based on the height of the cup, the breakout target is projected to be around $100,000, a significant psychological level.
This setup suggests a strong bullish trend for BTC, potentially reaching new all-time highs by 2025. Keep an eye on the handle breakout confirmation and the continuation of this bullish momentum.
Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Always conduct your own research before making any trading decisions.
Cup Formation: The cup began forming around early 2022 and was completed in mid-2023, showing a well-rounded bottom, suggesting a strong accumulation phase.
Handle Formation: The handle, forming as a bullish rectangle, indicates consolidation with an upward bias, giving further strength to the bullish outlook.
Breakout Target: Based on the height of the cup, the breakout target is projected to be around $100,000, a significant psychological level.
This setup suggests a strong bullish trend for BTC, potentially reaching new all-time highs by 2025. Keep an eye on the handle breakout confirmation and the continuation of this bullish momentum.
Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Always conduct your own research before making any trading decisions.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.