Bitcoin (BTC) is showing technical signals that might herald a significant surge towards the $100,000-$150,000 range by early 2025.
BTC price classic pattern hints at a big breakout. Bitcoin’s recent price trends are aligning with multiple technical indicators that suggest a bullish continuation, prominently featuring a “cup and handle” pattern. This formation includes a rounded bottom (the cup) followed by a consolidation phase (the handle), which typically precedes a significant bullish breakout.
The formation of the cup started after Bitcoin’s peak in late 2021, and the handle is now forming as Bitcoin hovers below the $65,000-$69,000 resistance levels.
The cup-and-handle pattern typically resolves when the price breaches its neckline resistance, potentially rising by as much as the distance from the neckline to the lowest point of the cup.
In Bitcoin’s scenario, the gap between the cup’s lowest point (around $15,000) and the resistance at the rim (near $65,000) spans roughly $50,000. Projecting this distance upwards from the breakout point, independent analyst Elja anticipates a target range between $110,000 and $130,000 for Bitcoin in early 2025.
Bitcoin a “ticking time bomb” — Analyst. Pseudonymous analyst Nestay has pointed out several indicators that support the bullish cup-and-handle setup.
For example, Bitcoin’s weekly Bollinger Bands Width (BBW) has been narrowing since June, a sign of decreasing market volatility which often precedes significant price movements.
Moreover, momentum oscillators like the Stochastic RSI and the Relative Strength Index (RSI) are indicating oversold conditions. Nestay also noted the Crypto Fear & Greed Index, currently in the “fear” category, suggesting that periods of high fear often precede robust price increases in Bitcoin.
The broader macroeconomic environment further enhances this bullish narrative. A rising global liquidity index, indicative of increased capital flows into risk assets like Bitcoin, alongside Bitcoin’s consolidating price actions, sets the stage for a potential explosive breakout as the market transitions into the final months of the year.
