Bitcoin Price Chart Projects BTC to Reach $255K ‘Minimum’ Target
Cointelegraph
A multi-year cup-and-handle pattern on Bitcoin’s weekly chart suggests a potential price surge to a minimum of $220,000, provided key support levels hold.Summary
Bitcoin has formed a bullish cup-and-handle pattern on its weekly chart, with technical analysts projecting a minimum price target of $220,000. For this outlook to remain valid, Bitcoin must maintain support above the $74,000 level. While some projections reach as high as $295,000, other models suggest targets near $255,000. Additionally, the recent 81% collapse in Bitcoin spot volume on major exchanges is being interpreted by some analysts as a potential precursor to a new bullish cycle, mirroring patterns observed at the end of previous bear markets.
(Source：Cointelegraph)