Bitcoin pattern in ‘full motion’ sets BTC price for the end of 2024
With Bitcoin’s (BTC) price hovering above $60,000, the maiden cryptocurrency’s technical pattern hints at a new rally that will potentially usher in a record high at the end of 2024. Particularly, Bitcoin’s ‘cup and handle’ formation, which began after the November 2021 high, signals a bullish setup, and the recent price trajectory fits the ‘handle’ part, according to TradingShot, who made this observation in a TradingView Analysis on October 4. Bitcoin price analysis chart. Source: TradingView The ‘cup and handle’ pattern indicates the potential for a continuation of an asset’s previous trend. In Bitcoin’s case, the deep price correction that started in 2021 is considered the “cup,” while the ongoing downward movement since March 2024 forms the “handle.” Picks for you ...