might be soon
for more info about the btc spike click the link
LIVE
CaptainAltcoin
--
This Bitcoin Pattern Signals Imminent Bullish Rally: Will BTC Price Surge to $90,000?
Bitcoin’s price behavior has sparked interest among traders, with technical analysis suggesting a bullish rally on the horizon. The cryptocurrency currently stands at $67,392.71, with a daily trading volume of $42,547,802,643. Despite a recent dip of 2.94%, analyst Sjuul from AltCryptoGems highlights a potentially bullish Cup & Handle pattern forming on the BTC/USDT chart.
Bitcoin (BTC) Technical Analysis
A Cup & Handle pattern is a bullish chart formation that traders use to identify potential long positions. This pattern consists of a “u” shape (the cup) followed by a slight downward drift (the handle). According to Sjuul, Bitcoin appears to be forming a substantial Cup & Handle pattern, which typically signals a bullish trend.
Sjuul outlines two potential scenarios for trading this pattern. The first scenario involves a deeper pullback along the handle channels. In this case, traders might consider entering the market at the green box, where a clear resistance turned support level is identified, accompanied by the 4H EMA200. This area is ideal for buying if a dip occurs.
The second scenario arises if bulls continue pushing higher. Here, traders would wait for a breakout of the Cup & Handle pattern, entering at the breakout level. In both cases, the key is to see the resistance level broken and left behind; otherwise, the pattern’s validity is compromised.
Bitcoin Price Forecast
If the Cup & Handle pattern holds and breaks out, the technical target should align with the depth of the cup’s low point. Sjuul estimates this target to be around the $90,000 level. This potential surge represents a significant opportunity for traders, emphasizing the importance of closely monitoring Bitcoin’s price movements and the pattern’s development.
New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less –
Read also: Render “Extremely Bullish” Despite Recent Sell-Off: Expert Reveals One More RNDR Dip Expected Before Rally
Bitcoin’s price movements have shown volatility, which is not uncommon in the crypto market. Despite the current price dip, the formation of a Cup & Handle pattern offers a promising outlook. Traders should remain vigilant, watching for either a deeper pullback or a breakout to position themselves effectively.
Join Aethir’s exclusive airdrop and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post This Bitcoin Pattern Signals Imminent Bullish Rally: Will BTC Price Surge to $90,000? appeared first on CaptainAltcoin.
Bitcoin (BTC) Technical Analysis
A Cup & Handle pattern is a bullish chart formation that traders use to identify potential long positions. This pattern consists of a “u” shape (the cup) followed by a slight downward drift (the handle). According to Sjuul, Bitcoin appears to be forming a substantial Cup & Handle pattern, which typically signals a bullish trend.
Sjuul outlines two potential scenarios for trading this pattern. The first scenario involves a deeper pullback along the handle channels. In this case, traders might consider entering the market at the green box, where a clear resistance turned support level is identified, accompanied by the 4H EMA200. This area is ideal for buying if a dip occurs.
The second scenario arises if bulls continue pushing higher. Here, traders would wait for a breakout of the Cup & Handle pattern, entering at the breakout level. In both cases, the key is to see the resistance level broken and left behind; otherwise, the pattern’s validity is compromised.
Bitcoin Price Forecast
If the Cup & Handle pattern holds and breaks out, the technical target should align with the depth of the cup’s low point. Sjuul estimates this target to be around the $90,000 level. This potential surge represents a significant opportunity for traders, emphasizing the importance of closely monitoring Bitcoin’s price movements and the pattern’s development.
New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less –
Read also: Render “Extremely Bullish” Despite Recent Sell-Off: Expert Reveals One More RNDR Dip Expected Before Rally
Bitcoin’s price movements have shown volatility, which is not uncommon in the crypto market. Despite the current price dip, the formation of a Cup & Handle pattern offers a promising outlook. Traders should remain vigilant, watching for either a deeper pullback or a breakout to position themselves effectively.
Join Aethir’s exclusive airdrop and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post This Bitcoin Pattern Signals Imminent Bullish Rally: Will BTC Price Surge to $90,000? appeared first on CaptainAltcoin.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0
