Amid the ongoing Bitcoin (BTC) resurgence, the cryptocurrency could reach a record high in the coming months, with a valuation of at least $100,000 being monitored.
In anticipation of this, a technical analysis shared by trading expert Titan of Crypto in an X post on July 16 suggests that Bitcoin’s chart points to a price target of $110,000.
The pattern in question is the “Cup & Handle,” a bullish continuation pattern that indicates a significant price increase once completed.
The pattern consists of two parts: the cup, a rounded bottom that forms after consolidation, and the handle, a smaller consolidation period that follows the cup, creating a downward-sloping channel or a sideways move. The handle typically forms in a shorter duration compared to the cup.
In the analysis, the deep trough formed between late 2021 and mid-2023, marked by a prolonged period of consolidation and gradual price increase. From mid-2023 to mid-2024, Bitcoin entered the “handle”
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