Best Crypto to Buy Now? Bitcoin’s Cup-and-Handle Signals a Breakout
The post Best Crypto to Buy Now? Bitcoin’s Cup-and-Handle Signals a Breakout appeared on BitcoinEthereumNews.com. A bullish pattern has appeared on the Bitcoin price chart, which preps it to climb to the $230K mark. This is bullish news in the face of the constantly changing geopolitical ecosystem, which has led Bitcoin to consolidate within the $107K to $110K zone. And the pattern isn’t limited to the monthly chart alone, as the daily chart is showing a similar price action. Does it mean Bitcoin could be the best crypto to buy now? Bitcoin Now Targets $230K – Analyst The prediction comes from popular cryptocurrency analyst Trader Tardigrade, who posted on X, stating that BTC has broken out of the handle pattern of the monthly chart. According to him, the BTC price could now reach $230K if the bullish momentum continues. This price action has been supported by standard analysis as well, which clearly shows the Bitcoin price breaking out of the handle in November 2024. The timeline to reach that level, according to the chart, is sometime in 2027. When it comes to the daily chart, a similar pattern has formed. The pattern formation is more profound, and the only way the handle will break is if the BTC price moves above its recently achieved ATH level. The breakout from the current handle will allow the BTC price to reach near $147K. It is important to note that while the technicals are bullish, there has been quite a bit of bearish news as well. For instance, The Economic Times recently reported that long-dormant whales are taking measures to trim their BTC positions at the same time as institutions are engaged in a BTC buying frenzy. Therefore, while the pattern is bullish, exercising caution is still advised. Is Bitcoin the Best Crypto to Buy Now? If we go by purely technicals and institutional interest, Bitcoin could be…
The post Best Crypto to Buy Now? Bitcoin’s Cup-and-Handle Signals a Breakout appeared on BitcoinEthereumNews.com.
A bullish pattern has appeared on the Bitcoin price chart, which preps it to climb to the $230K mark. This is bullish news in the face of the constantly changing geopolitical ecosystem, which has led Bitcoin to consolidate within the $107K to $110K zone. And the pattern isn’t limited to the monthly chart alone, as the daily chart is showing a similar price action. Does it mean Bitcoin could be the best crypto to buy now? Bitcoin Now Targets $230K – Analyst The prediction comes from popular cryptocurrency analyst Trader Tardigrade, who posted on X, stating that BTC has broken out of the handle pattern of the monthly chart. According to him, the BTC price could now reach $230K if the bullish momentum continues. This price action has been supported by standard analysis as well, which clearly shows the Bitcoin price breaking out of the handle in November 2024. The timeline to reach that level, according to the chart, is sometime in 2027. When it comes to the daily chart, a similar pattern has formed. The pattern formation is more profound, and the only way the handle will break is if the BTC price moves above its recently achieved ATH level. The breakout from the current handle will allow the BTC price to reach near $147K. It is important to note that while the technicals are bullish, there has been quite a bit of bearish news as well. For instance, The Economic Times recently reported that long-dormant whales are taking measures to trim their BTC positions at the same time as institutions are engaged in a BTC buying frenzy. Therefore, while the pattern is bullish, exercising caution is still advised. Is Bitcoin the Best Crypto to Buy Now? If we go by purely technicals and institutional interest, Bitcoin could be…
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