Bitcoin Teases Historic Breakout: Cup-and-Handle Pattern Signals Imminent ATH Surge

Bitcoin's flirting with a textbook cup-and-handle formation—and traders are leaning forward in their chairs. This isn't just technical analysis porn; it's the setup crypto degens dream about before moon lambo visions hijack their REM cycles.

The Anatomy of a Potential Mega Rally

That 'cup'? Three years of institutional digestion since the 2022 crypto winter. The 'handle'? Recent consolidation that's tighter than a VC's purse strings during a bear market. Break the neckline, and we're staring down the barrel of uncharted price territory.

Why This Time Isn't Different (Until It Is)

Every chartist and their dog sees the pattern. But watch the volume—retail's still nibbling while whales accumulate like BlackRock's ETF is going out of style. When the breakout comes, it'll happen faster than a crypto influencer deleting 'FTX promo' tweets.

The Cynic's Corner

Sure, the pattern could fail—just like your 'stablecoin yield farm' did in 2021. But with spot ETFs now hoovering up supply like a Wall Street vacuum cleaner, even the bears are whispering about six-figure targets. (Just don't remind them they predicted $10K Bitcoin last Christmas.)

Buckle up. Price discovery mode activates when BTC punches through resistance—and the only thing more volatile than the charts will be Twitter crypto bros' emotional states.

As bullish market sentiment is gearing up, with traders watching daily close above $110,000 to confirm the breakout. The RSI remains just under 60 offering room for upside without entering overbought territory. If the price successfully breaks above its previous high, then BTC price could rally to $168K as per the cup depth of 50%.

Global M2 Supports the BTC Bull Run

Global M2 supply has been steadily rising suggesting that liquidity is expanding which is a bullish catalyst for Bitcoin. It is the total money supply which includes M1 (cash and bank deposits), savings accounts, time deposits, and mutual funds. Historically, Bitcoin has followed global M2 in 12 weeks of gap, which implies room for BTC to grow.

Crypto influencer Collin Talks posted a macro-based thesis earlier today supporting this potential breakout. He heightened three more bullish formations that aligned. An Inverse Head and Shoulders that target BTC price to $150,000, followed by Bull Flag which shows continuation after consolidation. And a bullish pennant which signals upside following symmetric consolidation.

Global M2 Money Supply vs BTC

Global M2 hasn't stopped moving up this whole time.

Global M2 supports a BTC move up. [image 1]
Inverse H&S supports a BTC move up. [image 2]
Bull Flag supports a BTC move up. [image 3]
Bull Pennant supports a BTC move up. [image 4]

🚀 pic.twitter.com/ten4HvBAxE

As M2 money supply hit a new all-time high of $21.94 trillion, now it’s time for bitcoin to hit a new ATH. The $110,000 will be a psychological barrier, but following that next target for bitcoin would be $116,000k, following which the optimist target would be to fulfill Cup and handle Breakout.

Fundamentals Flashing Green For Bitcoin

Beyond the charts, fundamentals are flashing green, as On chain analytics firm Glassnode reported most Bitcoin holders are now back in profits following the rebound to $107,00. Interestingly distribution remains low, with long term holders (LTH) not rushing to sell. As realised profits are declining it indicates that investors are holding out for higher prices rather than cashing out early. 

As $BTC rebounds to $107k, most holders are back into profit. But distribution remains muted – investors are holding through. Realized profits decline, LTH supply hits ATH, and ETF inflows stay strong. Learn what to make of it in the latest Week On-Chain: https://t.co/Rc00Ql7P5x pic.twitter.com/g5OIvhk8lD

Meanwhile, the spot Bitcoin ETF inflows continue to provide steady support to the market. Bitcoin ETFs have seen consistent inflows in June, adding institutional momentum to the rally.

Also Read: BlackRock’s Bitcoin ETF Now Makes More Money Than Its S&P 500 Fund