Analyst Says It’s Time To Buy Bitcoin Again After Cup And Handle Pattern, Reveals New ATH Target

After an experiment Decreased declines and volatilityBitcoin (BTC) appears ultimately up, with an encryption analyst Prediction The outbreak of a new goal ever. After determining the cup style and the handle on the bitcoin scheme, the analyst announced the investors and traders who may now be It’s time to buy BTC.

Bitcoin price seeks to its highest levels ever

In a detailed Bitcoin price scheme, Cobravanguard, a Crypto TradingView analyst, highlights, Forming a cup of textbooks and the handle. This artistic style is an indication of a well -known budget, indicating that momentum may accumulate and that bitcoin may be on The edge of a strong price gathering.

Interestingly, the graph also displays other major technical indicators. and Ascending triangle styleIt is characterized by a flat upper resistance line and the height of the lower direction line. This artistic style is the composition of a large level often precedes a gathering, indicating an increase in purchase pressure.

Talk about buying pressure, Cobravanguard highlights that the appearance of two Order technology patterns On the Bitcoin scheme may be an indication of purchase and Hodl. With a price of less than $ 100,000 and currently being traded at 95,806 dollars, the high -end prices means that it may be the safest time to enter the market.

Based on these patterns, select TradingView analyst A new goal for Bitcoin. The leading cryptocurrency is expected to reach $ 120,000 in the coming weeks. This would represent a new height at all, Except the previous market peaks It was obtained earlier this year.

It is worth noting that cobravanguard is also determined AB = CD Equivalent Style On the graph in addition to a cup, handle, and upward triangle style. AB = CD indicates the symmetry in Bitcoin price movements It indicates the transmission of a size to the upper direction as soon as the pattern is completed.

Although the TradingView analyst predicts that the original may reach $ 120,000, it highlights that if the upcoming upscale patterns of the above erupted, a higher goal of $ 124,619 can be reached.

Whales go in a huge BTC purchase

the Bitcoin purchase pressure continues toSince the whales cut as much BTC as possible during the current declining direction. It is known that these deep -wound investors are making strategic purchases, and they often enter the market during volatile and retreating periods, then selling in market peaks.

According to a new Reports From Coinvo on X (Twitter previously), Bitcoin whales They currently buy a “crazy” amount of BTC. With the participation of a detailed scheme depicting Bitcoin flows of accumulation addresses, Coinvo highlights a sharp increase in flows, indicating that whales buy BTC activity in large quantities.

This behavior is often seen before potential prices, where accumulation tends to increase demand. As a result, Coinvo indicated that Increase the activity of the whale It may be a sign to start buying BTC.

Distinctive image from Unsplash, Chart from TradingView.com