GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

Bitcoin’s Cup And Handle Pattern Signals Explosive Move To $186,000 — Analyst

Popular market analyst Egrag Crypto has dropped a Bitcoin price prediction due to the recent formation of a highly bullish chart pattern. The maiden cryptocurrency currently trades above $84,000 following its minor recovery in the latter part of last week. However, the continuity of the current bull run remains uncertain barring a sustained uptrend.

Bitcoin’s Bullish Chart Pattern Hints At Major Price Surge

In an X post on March 14, Egrag Crypto states the BTC market may be preparing for a major price breakout. According to the technical analysis shared by the trading expert, Bitcoin has formed a Cup and Handle pattern hinting a major bullish move is on the horizon.

For context, the Cup and Handle pattern represents a textbook bullish formation that occurs when an asset experiences a rounded bottom i.e. the cup followed by a slight pullback i.e. the handle before a breakout to new highs. This is well illustrated in the weekly chart below following BTC’s price action in the past two years.

Bitcoin

According to Egrag Crypto, the premier cryptocurrency is on the verge of a breakout with multiple potential price targets in sight. The non-logarithmic target presents a conservative possible price peak of $113,000. Meanwhile, the logarithmic scale which accounts for historical exponential gains points to a price target of $260,000.

Taking an average of both methods, Egrag Crypto has picked a personal target of $186,000. The analyst also favors a potential price peak at $175,000 as indicated by the Fibonacci extension level of 1.618 which has historically acted as a reliable cycle top indicator. However, while this analysis presents a robust bullish prediction, Bitcoin must first experience a pullback to around $65,000 to initiate this price surge.

Bitcoin Network Fees Drop By 24%

In other news, IntoThe Block reports that Bitcoin network fees have decreased by 24.4% reaching $2.5 million which was last reported in September 2024. The analytics firm notes that this decline has occurred despite significant market changes which saw Bitcoin slip to $77,000 before rising to reclaim the $85,000 price level.

Amidst Bitcoin’s larger struggles, IntoTheBlock also reports that exchange inflows grew by $840 million suggesting a weakening market confidence as investors move to sell their assets.

At press time, the crypto market leader is valued at $84,545 reflecting a 3.12% gain in the past day. However, reported losses of 1.76% and 13.11% in the past seven and 30 days indicate a dominant bearish influence in recent weeks.

Bitcoin

Latest Press

post-thumbnail
News
3 hours ago
Bitcoin, Ethereum and XRP Price Prediction: Will Interest Rate Decision Revive Buying Demand?
The post Bitcoin, Ethereum and XRP Price Prediction: Will Interest Rate Decision Revive Buying Deman...
READ MORE
default post thumbnail
News
3 hours ago
XRP $15 Breakout? Not A Far-Fetched Idea—Analysis
After dropping to less than $2 last March 11th, Ripple’s XRP springs back to life and it’s curre...
READ MORE
default post thumbnail
News
3 hours ago
Chainlink Price Could Run To $31 In The Next Leg Up — Here’s Why
The final months of a market cycle are usually characterized by exhilarating runs by various assets ...
READ MORE
default post thumbnail
News
3 hours ago
Cardano Is ‘About To Break Free’ – Breakout Above Crucial Supply To Trigger A Big Move–Analyst
Altcoins and Cardano have been caught in extreme market swings, with high volatility and panic-drive...
READ MORE
default post thumbnail
News
3 hours ago
Shiba Inu Burn Update: 99.44% Daily Burn Crash Could Spell Trouble For Meme Coin
Shiba Inu’s price action in the past 24 hours has been characterized by a brief recovery after hit...
READ MORE
default post thumbnail
News
3 hours ago
Shiba Inu Price Prediction: The Future of SHIB in the Crypto Market
When it comes to Shiba Inu price prediction, everyone wants to know, is it still a good investment?�...
READ MORE
default post thumbnail
News
3 hours ago
Top 3 Reasons Why Ripple (XRP) is a Better Investment Than Ethereum (ETH) in 2025
Top altcoins are racing for dominance as the market rebounds. Experts believe that by 2025, Ripple (...
READ MORE
default post thumbnail
News
3 hours ago
Shiba Inu’s (SHIB) Path to $0.000081 Remains Rocky as Investors Aim for a 21670% ROI With This Crypto
Popularity for meme coin enthusiasts, SHIB’s rise to $0.000081 is problematic. The operational vol...
READ MORE
default post thumbnail
News
3 hours ago
Best Cheap Crypto to Buy Now: Affordable Assets with High Potential
Finding the best cheap crypto to buy now isn’t just about jumping on the latest meme coin hype,  ...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started