2024

Bitcoin

Giant

Read

GIANT

<ul>
 <li>Bitcoin forms a Cup with Handle pattern, price at the tip of the handle.</li>
 <li>The Giant Cup with Handle pattern indicates a bullish trend for Bitcoin.</li>
 <li>Bitcoin’s price at $57,005, poised for a breakout to $240,000.</li>
</ul>
<p>Traders and investors use different methods to analyze price movements of underlying assets. <a href="https://cryptonewsland.com/btc-forms-bullish-giant-cup-and-handle-pattern-new-ath-soon/" rel="noopener noreferrer nofollow">The Giant Cup with </a><a href="https://cryptonewsland.com/btc-forms-bullish-giant-cup-and-handle-pattern-new-ath-soon/" target="_blank" rel="noopener noreferrer nofollow">Handle</a> is a popular technical indicator among Bitcoin traders.</p>
<p>The Cup with Handle pattern is a bullish continuation pattern that signals a potential upward trend. Typically, it forms after a strong price rally, followed by a period of consolidation. The pattern resembles a tea cup, with the “cup” being a rounded bottom and the “handle” a smaller consolidation phase.&nbsp;</p>
<h2 class="wp-block-heading" id="h-the-cup-with-handle-pattern-formation-nbsp">The Cup with Handle Pattern Formation&nbsp;</h2>
<p>The pattern typically begins with a price decline which creates the left side of the cup. After the price decline, the rounded bottom of the cup forms during the stabilization and gradual recovery period.&nbsp;</p>
<p>According to <a href="https://twitter.com/tatrader_alan?lang=en" rel="noopener noreferrer nofollow">Trader </a><a href="https://twitter.com/tatrader_alan?lang=en" target="_blank" rel="noopener noreferrer nofollow">Tardigrade</a>, Bitcoin is now at the tip of the handle, ready for a breakout. The measured target for this breakout is $240,000 — 306.66% from the current price of $59,005. This price target is calculated based on the depth of the cup and the height of the handle.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> GIANT Cup with Handle Pattern has been formed <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>We are now at the tip of the handle.<br>It's ready to go anytime.<br>The measured target is $240k <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/7fRJJGdPdP" rel="noopener noreferrer nofollow">pic.twitter.com/7fRJJGdPdP</a></p>— Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1811374828307570801?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Once the <a href="https://www.binance.com/en/price/bitcoin" rel="noopener noreferrer nofollow">price of </a><a href="https://www.binance.com/en/price/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> reaches the previous high, it consolidates and creates the handle. This handle typically slopes downward. According to experts, the slope signals a temporary pause before the next upward move.</p>
<p>The significance of the Cup with Handle pattern lies in its historical reliability. This pattern has been observed in various financial markets and has often led to substantial price increases.&nbsp;</p>
<p>The formation of the Giant Cup with Handle pattern in Bitcoin’s price chart is a <a href="https://cryptonewsland.com/altcoin-market-poised-for-growth-reflecting/" rel="noopener noreferrer nofollow">bullish </a><a href="https://cryptonewsland.com/altcoin-market-poised-for-growth-reflecting/" target="_blank" rel="noopener noreferrer nofollow">signal</a>. With the price currently at the tip of the handle, the market is poised for a potential breakout.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/btc-forms-bullish-giant-cup-and-handle-pattern-new-ath-soon/" rel="noopener noreferrer nofollow">BTC Forms Bullish Giant Cup and Handle Pattern, New ATH Soon?</a></li>
 <li><a href="https://cryptonewsland.com/xrps-cup-handle-pattern-a-bullish-signaling-for-1-05-1-88-targets/" rel="noopener noreferrer nofollow">XRP’s Cup &amp; Handle Pattern: A Bullish Signaling for $1.05 &amp; $1.88 Targets</a></li>
 <li><a href="https://cryptonewsland.com/jasmy-prints-giant-cup-and-handle-pattern-signaling-major-bullish-movement-taking-jasmy-price-to-0-7/" rel="noopener noreferrer nofollow">JASMY Prints Giant Cup and Handle Pattern Signaling Major Bullish Movement Taking JASMY Price to $0.7</a></li>
 <li><a href="https://cryptonewsland.com/xrps-chart-indicates-multi-year-bull-run-ahead/" rel="noopener noreferrer nofollow">XRP’s Chart Indicates Multi-Year Bull Run Ahead</a></li>
 <li><a href="https://cryptonewsland.com/jasmy-could-print-2000-price-surge-after-closing-nearly-complete-bullish-cup-and-handle-pattern/" rel="noopener noreferrer nofollow">JASMY Could Print 2,000% Price Surge After Closing Nearly Complete Bullish Cup and Handle Pattern</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/bitcoin-cup-with-handle-pattern-forms/" rel="noopener noreferrer nofollow">Bitcoin Giant Cup with Handle Pattern Forms, BTC Price at the Tip of the Handle</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Giant Cup with Handle Pattern Forms, BTC Price at the Tip of the Handle

قائمة المحتويات

Crypto News Land

المزيد من المقالات نُشرت في ١٢ يوليو ٢٠٢٤

Inside Charlie Lee World: The Man Behind Litecoin

Solana’s BONK Overtakes WIF After 12% Surge: Market Cap Battle Unfolds

Squarespace Vulnerability Risks DeFi Security

Investors Analyze XRP’s Recent Price Surge

Zeebu on the Rise: Hits $3B Transaction Volume and New All-Time High

Argentine Crypto Exchanges Under Scrutiny: A Closer Look at Regulatory Impact

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.