Three-Year Cup-And-Handle Pattern Will Push Bitcoin Above $100,000

For three years, analyst Jelle has noted a bullish Bitcoin chart pattern. If the pattern plays out, the analyst predicted a price objective of $100,000 or above.

Bitcoin's 3-Year Cup and Handle Pattern Could End Soon
Jelle said on X that Bitcoin's 3-year cup and handle pattern should play out soon. The expert said the pattern has a 6-figure range and this might happen in the fourth quarter. The analysis shows Bitcoin might hit $140,000 from $100,000.

The flagship crypto is positive in the fourth quarter, but it may not reach $100,000. Bernstein analysts expect Bitcoin to hit $90,000 if Trump wins. Standard Chartered predicts BTC will reach $150,000 by year-end if Trump wins.

The flagship crypto would benefit from market clarity following the election, whatever of the result. Bitcoin has seen positive monthly returns in the fourth quarter of every halving year. The flagship crypto has three straight positive months between October and December in 2016 and 2020.

Next week's FOMC meeting on September 17-18 might start Fed rate reduction. This should enhance investors' trust in risky assets like Bitcoin.

Other Reasons BTC Could Exceed $100,000

Bitcoin might soar beyond $100,000 for additional technical reasons, according to crypto specialists. Titan of Crypto noted a developing monthly Bitcoin bull pennant. He said the flagship crypto may reach $158,000 if that happens.

Bitcoin's 2-month chart showed a Golden Cross, according to the crypto expert. He said this bullish pattern has always led to a large BTC rise, indicating it may happen again. If this rise occurs, the flagship crypto might hit six digits, according to his graphic.

SalsaTekila predicts Bitcoin might reach beyond $200,000 this market cycle. He called this price a “target for chickens.” The expert said the spot market dominates this time, making the market fundamentally different. He said this is positive as supply decreases.

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