☕ Bitcoin’s Cup-And-Handle Forms — $300K Target Still in Play?
During the current bull run has boldly predicted Bitcoin (BTC) would reach $300,000. A few days after hitting a new all-time high at $111,970, Van Lagen predicted a strong bullish intent to prolong the market upswing.
Trump's recommendation of a 50% tax on EU goods caused a little price correction, but the primary cryptocurrency gained 5.35% last week.
Bitcoin Possible Exponential Growth Projects Reach $300K
On May 24, Gert Van Lagen writes on X that BTC price activity since the previous cycle in 2021 has formed a cup-and-handle, predicting a huge price breakout.
The cup-and-handle is a significant bullish continuation pattern that may break out. Bitcoin's cup formed between late 2021 and early 2024 when price action generated a rounded bottom, representing a dip from a prior all-time high around $69,000, followed by stability and recovery to return to that level.
Price pullback after this earlier high formed the handle, laying the foundation for a price breakout. Bitcoin's price behavior from early 2024 to Q3 2024 shows this.
Bitcoin broke out of the cup-and-handle configuration by breaking $69,000 market barrier. Gert Van Lagen predicts Bitcoin will reach $120,000–$130,000 based on linear calculations, which is within reach given the present market velocity.
BTC achieved logarithmic objectives with 100x profits from 2013-2017 and 21x from 2018-2021.
After spot Bitcoin ETFs were approved in 2024, institutional money increased, supporting this positive view. Institutional involvement shows long-term confidence and BTC's development. Bitcoin's magnitude, at $2 trillion, may reduce parabolic swings, but crypto market volatility still offers tremendous upside.
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