Cup and Handle chart pattern points to $130k bitcoin price
Will this chart pattern play out?
Bitcoin has created what looks like a rather large cup and handle trading pattern.
Check it out:
(Source: https://x.com/rovercrc/status/1824889432610050151/photo/1)
The measured move for this setup is taken from the right top of the cup to the based.
In this instance that would be about $74k to about $15k, which is roughly $59k.
That value is added to the breakout from the handle, which would be around $70k or so.
Add it all up and that points to a price in the $120k to $130k range.
"🚀💡 Oh man, this chart pattern is looking super promising! 🤩 Would love to hear your thoughts on whether you think it'll play out? Share your insights and let's discuss! 👥 Let's get the conversation going!"
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