Bitcoin may be entering one of its most bullish technical phases yet, according to a newly confirmed cup and handle formation spotted on the weekly chart.

This pattern, highlighted by Bitcoinsensus, has been taking shape since late 2021 — and it’s now showing signs of a breakout.

A Classic Bullish Continuation Structure

The cup and handle is one of the most well-known bullish continuation patterns in technical analysis. It begins with a rounded bottom that forms the “cup,” followed by a consolidation or downward-sloping phase known as the “handle.” Once the handle completes, a breakout above the resistance level often sets the stage for a strong upside rally.

BTC’s cup base stretches from late 2021 through mid-2024, with the handle forming throughout late 2024 and early 2025. As the chart shows, price action has now breached the handle resistance, suggesting that bullish momentum may be accelerating.

Pole Measurement Sets $320,000 Target

Using the pole measurement technique, which projects the potential move by measuring the depth of the cup and extending it from the breakout point, the breakout target is set at an ambitious $320,000. This aligns with historical outcomes from previous cup and handle setups, which have often delivered outsized returns after confirmation.

What Comes Next?

For this breakout to remain valid, Bitcoin must maintain weekly closes above the neckline of the handle. A sustained rally above that threshold could confirm the pole projection and attract further institutional and retail capital.

Investors and traders will now be watching closely for continuation, as the macro pattern could define the next major leg of the Bitcoin bull market.

The post Bitcoin Breaks Out From Weekly Cup and Handle: $320,000 Target in Sight? appeared first on Coindoo.

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Filed under: Bitcoin - @ June 15, 2025 1:26 pm