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

목차

Crypto News Land

2024년 7월 28일에 게재된 다른 기사

BinaryX Announces Historic Vote to Burn 74% of BNX Tokens

Get Ready for the Best Crypto Coin Presale: Pepe Coin to Surge 80% in Q3 2024

Crypto News: Dogecoin & Shiba Inu Fans Awestruck as BlockDAG’s Leadership Reveal Rockets Presale ...

TRON (TRX) and Rollblock (RBLK) Look Ready To Moon While Hedara (HBAR) Falls Off A Cliff

AI Cryptos Ready for August Boom Following Ethereum ETF Trade Launch – Don’t Miss Out!

Senator Proposes US Government Purchase of Bitcoin

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!