Will this bullrun be formed out of a cup with handle breakout? If the price confirms the resistance at the current region, it could very well be the case.
Cup and Handle identification analysis:
• Price rises into the start of the cup - ✔
• The cup should be U-shaped, not V-shaped - ✔
• Cup rims should be near the same price level but be flexible - ✔
• A rounded turn that looks like a cup with a handle on the right - loading...
• The cup must have a handle on the right - loading...
That would lead to Bitcoin's new ATH @ ~$280k by the end of 2025.
Cup and Handle identification analysis:
• Price rises into the start of the cup - ✔
• The cup should be U-shaped, not V-shaped - ✔
• Cup rims should be near the same price level but be flexible - ✔
• A rounded turn that looks like a cup with a handle on the right - loading...
• The cup must have a handle on the right - loading...
That would lead to Bitcoin's new ATH @ ~$280k by the end of 2025.
Note
So far so good. Price is not breaking the pattern yet. It looks like it's forming the cup's handle. I'd expect it to reach the 0.786 Fibonacci level at ~53k, at least.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.