Bitcoin’s Cup-and-Handle Breakout Eyes $118K—Could $150K Be Next?
Bitcoin's price action just painted a textbook cup-and-handle pattern—and the breakout is charging toward $118,000. Here's why traders are whispering about $150,000.
The Setup: A Bullish Blueprint
Classic chart patterns don’t get much clearer than this. After months of consolidation, BTC’s cup-and-handle formation signals explosive upside potential. No crystal balls here—just pure technicals screaming 'buy.'
The Target: Beyond the Obvious
$118,000 is the near-term prize, but the real story? Institutional FOMO could fuel a run to $150K faster than a hedge fund pivoting to 'web3 strategist.' (Bonus jab: Wall Street’s still trying to pronounce 'HODL.')
The Catch: Volatility Never Sleeps
Remember—this is crypto. Every 20% dip gets labeled 'healthy correction' until it isn’t. Trade the chart, not the cheerleading.
- Bitcoin surged to an all-time high level of $118,254, up 26.1% from the start of the year.
- Corporate treasury demand is rapidly increasing, fueling optimism and potential capital inflows, driving Bitcoin higher.
- Prices between $150K and $180K are within reach within six months if BTC holds above $110K.
Bitcoin surged to an all-time closing record of $118,254, marking a powerful 10% weekly surge. This rally confirms a classic cup-and-handle breakout pattern, a bullish technical signal watched closely by traders. It reflects growing investor confidence and triggers renewed activity across major segments of the crypto market.
Currently, Bitcoin trades near $117,763, sustaining its momentum. The current price increase means a 1.09% increase within 24 hours and a 26.1% upsurge since the start of the year. The day’s high was on Friday, when it touched $118,661, following a steady breakout above $112,000 on Wednesday and passing $113,000 on Thursday.
Analysts Highlight Bitcoin’s Bullish Trajectory
Analysts are pointing to Bitcoin’s current bullish trajectory, and CryptoCon is indicating a Fibonacci extension model that predicts a cycle top NEAR $184,181. The model correctly previously suggested market tops in 2013, 2017, and 2021, and thus, the current bull cycle still has much further to appreciate.
The recent sharp price surge has energized miners and Leveraged traders alike, triggering increased capital inflows and higher market participation. Experts believe this breakout may pave the way for a wider rally, with Charles Edwards pointing out that: “New all-time highs beget new ATHs. It’s unwise to ignore this breakout.”
BTC Price Prediction: $150K to $180K Range
As Edwards explains, this demand might trigger a “capital-raising flywheel” that sends still more capital into BTC. He foresees Bitcoin’s value rising by 50–70% within the subsequent six months, positioning the new goal range between $150,000 and $180,000 should bullish circumstances continue and momentum remains steady.
New all time highs beget new ATHs. It's usually unwise to ignore a major breakout like this, until invalidated.
We have exponential growth in bitcoin treasury companies, dozens popping up in the last months. Now they can go to their investors and show insane performance…
While expressing optimism, however, Edwards cautioned about downside risks too. If BTC falls below $110,000, it can further weaken the bullish argument. If it falls below $105,000, then it can invalidate the whole chart pattern.
As BTC appears poised for further exponential growth, all eyes are on the market’s response in the coming weeks. As long as the breakout continues to persist, the next half-year may chart Bitcoin’s course to mainstream financial involvement. Traders are urged to stay vigilant and adapt quickly to price swings.
: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
