Bitcoin’s price action has been trapped in a tight range between $84,000 and $82,000 in recent days, with bulls struggling to push upwards. The general market sentiment is one of a cautious nature, and hopes of a quick return above $90,000 are starting to fade. However, a new technical analysis suggests that Bitcoin could be on the verge of a significant rally, as price action shows the cryptocurrency is currently conforming to the cup-and-handle pattern. Cup And Handle Support Could Cause A Major Bitcoin Rally Recent Bitcoin price movements have drawn attention back to a key technical structure of the handle support of a cup-and-handle pattern, suggesting that a bullish setup may be quietly taking shape. This interesting Bitcoin price activity was relayed in a technical analysis by a crypto analyst on the TradingView platform. Related Reading: Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem The cup-and-handle pattern in question has been forming over multiple years, with the rounded bottom phase stretching from 2021 to mid-2024. This prolonged accumulation period saw Bitcoin gradually recover from the ..
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