Bitcoin to skyrocket? Historic BTC cup and handle pattern spotted
Over the last six months, Bitcoin (BTC) has been trading in a range that is getting progressively tighter. During this period, prices have ranged from a high of $73,100 to a brief low of $53,960 — as of press time, the world’s largest cryptocurrency has shed 11.78% of its price, taking a notable bite out of the 40.10% year to date (YTD) rise. In a TradingView post on August 27, technical Analysis expert and trader MetaShackle suggested that “BTC is forming an absolutely massive Cup & Handle on the Daily/Weekly chart. There has never been a formation like this in the history of crypto, and it’s sure to be an incredible run to levels that will shock the world.” BTC 3-year cup & handle pattern. Source: TradingView / MetaShackle What is a cup and handle pattern? A ‘cup and handle’ is a long-term, bullish chart pattern that traders use to find opportunities when an asset’s price will break out to the upside. Like with all chart patterns, the name is a no...