bullish

2024

Giant

Read

<ul>
 <li>Bitcoin’s “cup and handle” breakout suggests a potential surge to $110,000.</li>
 <li>Institutional interest and Bitcoin’s scarcity drive demand and upward price pressure.</li>
 <li>Technical indicators and historical patterns support Bitcoin’s bullish momentum.</li>
</ul>
<p><a href="https://cryptonewsland.com/bitcoin-eyes-85000-target-as-bullish-wedge-pattern-forms/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s latest chart patterns</a> suggest a significant price movement could be imminent. According to Titan of Crypto, a respected analyst, Bitcoin’s recent breakout from a “cup and handle” formation indicates a potential surge toward $110,000.</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> $110,000 is programmed <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://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> is breaking out from the handle of the cup.<br><br>Fasten your seatbelt. <a href="https://t.co/XLaM22kzOS" rel="noopener noreferrer nofollow">pic.twitter.com/XLaM22kzOS</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1817230574714503284?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-understanding-the-cup-and-handle-pattern-nbsp">Understanding the “Cup and Handle” Pattern&nbsp;</h2>
<p><a href="https://cryptonewsland.com/bitcoin-cup-with-handle-pattern-forms/" target="_blank" rel="noopener noreferrer nofollow">The “cup and handle” pattern</a> is a bullish continuation pattern. It resembles a teacup where the cup is formed by a rounded bottom, and the handle is a slight downward drift.&nbsp;</p>
<p>This formation often signals the end of a consolidation phase and the beginning of a new bullish trend. When the price breaks out from the handle, a substantial upward move often follows.</p>
<p>Bitcoin’s price has been consolidating within this formation for some time. The breakout from the handle suggests that Bitcoin is gearing up for a major upward movement.&nbsp;</p>
<p><a href="https://twitter.com/washigorira?lang=en" target="_blank" rel="noopener noreferrer nofollow">Titan of Crypto’s</a> assertion that “$110,000 is programmed” is not without basis. Historical analysis of Bitcoin’s price movements shows that such patterns can lead to substantial gains.&nbsp;</p>
<p>For instance, Bitcoin’s previous “cup and handle” formations have resulted in impressive price increases. The current breakout adds to the bullish sentiment surrounding Bitcoin.</p>
<h2 class="wp-block-heading" id="h-factors-supporting-btc-s-bullish-outlook">Factors Supporting BTC’s Bullish Outlook</h2>
<p>First, institutional interest in Bitcoin remains high. Major financial institutions and corporations continue to invest in and adopt Bitcoin, adding credibility and driving demand.&nbsp;</p>
<p>Additionally, Bitcoin’s scarcity, with its fixed supply of 21 million coins, plays a crucial role. As demand increases and supply remains limited, upward price pressure becomes inevitable.</p>
<p>Additionally, ongoing inflation concerns and economic uncertainties drive investors toward assets considered stores of value, such as <a href="https://bitcoin.org/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>. This trend is evident in the growing number of retail and institutional investors flocking to the cryptocurrency market.</p>
<p>The technical indicators also support BTC’s bullishness since moving averages, relative strength index (RSI), and other key metrics indicate strong momentum. A breakout from the handle will likely push the price of Bitcoin above crucial resistance levels, paving the way for further gains.</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-to-hit-110k-by-the-end-of-2024-ari-paul-predicts/" rel="noopener noreferrer nofollow">BTC to Hit $110k by the End of 2024: Ari Paul Predicts</a></li>
 <li><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></li>
 <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>
</ul>
<p>The post <a href="https://cryptonewsland.com/btc-110k-potential-as-cup-handle-breaks/" rel="noopener noreferrer nofollow">$110K BTC Price in the Horizon as Cup Handle Breakout Signals Bitcoin’s Ascent</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

$110K BTC Price in the Horizon as Cup Handle Breakout Signals Bitcoin’s Ascent

Indice dei contenuti

Crypto News Land

Altri articoli pubblicati su 28 lug 2024

Peter Schiff Accidentally Endorses Bitcoin

Zcash Price Prediction for Today, July 28 – ZEC Technical Analysis

China And Russia Adopt Digital Payments For Trade

BNB Reclaims Fourth Spot as OpenLiquidity Launch Boosts Ecosystem

Trump Pledges U.S. Bitcoin Reserve and Crypto-Friendly Policies

Senator Advocates US Bitcoin Acquisition

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!