2024

Bitcoin

Giant

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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">
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  <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>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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</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

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