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- Bitcoin broke to the $110K mark after a cup-and-handle breakout.
- Winded just short of $5K of its supposed target of $115K, cementing an unquestionable rally.
- Bitcoin today is priced at $87,470, suggesting a small bout of profit-taking.
Via a carefully structured cup-and-handle, Bitcoin was seen making a clean break to around $110k, with Trade-View charts posted by Ali on March 23, 2025, demonstrating this formation working off the weekly timeframe with Bitstamp data. Between late 2021 and mid-2023, a rounded bottom is easily seen forming under the chart shared by Ali. A descending handle formation eventually breaks into a price rally. Price rallied to a local top of $110,000- which is $5,000 shy of the $115,000 target projected by the chart’s technical setup.
Round-Bottom Formation Started in 2021, Breakout Sparked in Early-2024
The formation began with a decline from some $69,000 in November 2021, marking the start of the cup’s left rim. Afterwards, the price dropped below $20,000 yet recovered gradually in 2022 and 2023. The rounded base formed across almost two years and completed in early 2024 when the price returned to the $69,000 resistance level, completing the cup’s right rim. The consolidation, often lasting many years, served as a building block for the handle formation just below the desired target, just as this traditional bullish continuation pattern suggests.
Handle Formation and Breakout Confirmed Pattern Validity.
Bitcoin tested the $69,000 mark and proceeded into a tightening range that lasted for several months. The handle was slanted downwards somewhat, showing a descending resistance with higher low structure. This low-volume consolidation period was ended by a strong breakout that confirmed the handle saw completion and activated the breakout target.
A plethora of analysts had the opportunity to discuss this move’s technical precision, with many of them noting how perfectly symmetrical it was and how disciplined the follow-through was. One of the replies had another user noting, “You’re my favorite bipolar crypto analyst. ” The sharpness of these patterns implies that there’s a lot of volatility.
