- 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.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed