Bitcoin - A Long Term Analysis - Cup and Handle Pattern

2024년 7월 22일

Bitcoin has formed a promising cup and handle pattern on the weekly chart. Currently, the price is trading within the handle and appears poised for a breakout. A confirmed breakout from the handle could propel Bitcoin's price above $100K.

The handle formed during the correction period following the Bitcoin halving, which was anticipated. Fundamentally, a bull run is expected during the last quarter of 2024 and the first quarter of 2025, which suggests a natural price increase. Breaking the previous all-time high around 73K would further drive the price upward, with my target for this bull run set at $140K.

For a safer trade, consider entering after a breakout above $73K. For those seeking an early entry, you can buy at the current price and hold until the peak of the bull run.

Stay tuned for more updates.

Cheers,
GreenCrypto

2024년 8월 9일

노트

Price is still trading inside the handle