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.
Comment:
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.
