Bitcoin Breaks Out of Cup and Handle Pattern Targeting 320,000

Bitcoin is showing signs of entering a highly bullish phase, as indicated by a newly confirmed cup and handle formation on its weekly chart. This pattern, identified by Bitcoinsensus, has been developing since late 2021 and is now exhibiting signs of a breakout.
The cup and handle is a well-recognized bullish continuation pattern in technical analysis. It begins with a rounded bottom forming the "cup," followed by a consolidation or downward-sloping phase known as the "handle." Once the handle is complete, a breakout above the resistance level often signals a strong upward rally.
Bitcoin's cup base extends from late 2021 through mid-2024, with the handle forming throughout late 2024 and early 2025. The price action has now breached the handle resistance, suggesting that bullish momentum may be accelerating.
Using the pole measurement technique, which projects the potential move by measuring the depth of the cup and extending it from the breakout point, the breakout target is set at an ambitious $320,000. This aligns with historical outcomes from previous cup and handle setups, which have often delivered outsized returns after confirmation.
For this breakout to remain valid, Bitcoin must maintain weekly closes above the neckline of the handle. A sustained rally above that threshold could confirm the pole projection and attract further institutional and retail capital.
Investors and traders will now be watching closely for continuation, as the macro pattern could define the next major leg of the Bitcoin bull market.

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