Bitcoin Price Set For Reversal To $130,000 After Forming Major Cup And Handle Support

Quick Summary:

This interesting Bitcoin price activity was relayed in a technical analysis by a crypto analyst on the TradingView platform.  Related Reading: Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem The cup-and-handle pattern in question has been forming over multiple years, with the rounded bottom phase stretching from 2021 to mid-2024.

Cup And Handle Support Could Cause A Major Bitcoin Rally Recent Bitcoin price movements have drawn attention back to a key technical structure of the handle support of a cup-and-handle pattern, suggesting that a bullish setup may be quietly taking shape.

Related Reading: Bitcoin Open Interest Crashed To 6-Month Low, Here’s What Followed The Last Time The alignment of the cup-and-handle formation with Elliott wave projections strengthens the case for a major breakout in the coming months.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Corrective ABC Sub-Waves Btcusd Impulse Wave Formation Bitcoin news BTCUSDT Cup and Handle Pattern Bitcoin Btc Bitcoin price Btc price Elliot Wave Bitcoin ETFs BTC news Consolidation Phase Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 00:00:27 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 27121918

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